As part of your will, you can choose an executor to deal with your estate upon your death. The role of an executor is to carry out the wishes of the deceased individual as specified in their will.
The activities an executor can be called upon to do can include but are not limited to:
- Making funeral arrangements,
- Notifying any organisations such as financial institutions of the deceased death,
- Taking control of all the assets of the estate,
- Resolving all estate liabilities and disputes including any taxation liabilities which are outstanding,
- Obtaining any grant of probate or letters of administration,
- contacting beneficiaries of the estate to advise them of their entitlements,
- Distributing the deceased assets in accordance with the terms of the will.
Nominating an executor
Anyone over the age of 18 can act as your executor. You can choose a relative, close friend, professional (such as a Wills and Estates lawyer) or a trustee company. Whomever you choose, it’s important to note, the executor role is complicated. In essence, the executor role dots the i’s and crosses the t’s of your life redistributing your assets in accordance with your wishes after your death. When choosing an executor for your estate you may want to consider their skill set and ability to deal with the emotional grief that may arise after your passing to decide if they are suitable for the role.
Deciding on who to nominate as your executor can be difficult. You may have multiple individuals in mind. Thankfully, in Victoria, you are allowed to nominate up to four executors to carry out the terms of your will. No matter who or how many executors you appoint, make sure the individuals have a good relationship so they can carry out your wishes efficiently. When executors disagree it can cause delays in the administration of the estate.
Wills & Estates lawyers in Geelong
At Whyte, Just & Moore, our Wills & Estate team is led by one of our Principals, Aaron Jolly, who is an accredited Wills & Estates specialist. With extensive experience in will preparation, and estate administration, our compassionate and competent Wills and Estates lawyers will make sure your wishes are executed.
If your estate is disputed our Wills & Estate lawyers’ will offer practical legal advice and mediation processes to try to resolve the dispute. If the dispute escalates and requires court involvement, WJM senior lawyers are experienced in defending and making claims against deceased estates.
For compassionate yet competent legal services and advice in Geelong or along the Bellarine Peninsula or Surf Coast contact WJM Lawyers.