What Happens When You’re Named An Executor Of A Will?

When most wills are prepared a person is appointed by the will-maker as an ‘Executor’. This can include everyone from next-of-kin, immediate family, relatives, family-by-blood and close friends. It all comes down to what the will-maker sees in that person and entrusts in them so that they can manage their affairs, in accordance with their wishes, after they passed.

Many wonder what this role entails – and whether it carries extra responsibilities and risks. As a leading Melbourne family law firm in wills, estates and probates, we break down the key tasks of the role.

The Basic Premise

As an Executor, the basic role is to administer and follow on from the requests from deceased’s will. This can include everything from organising the funeral to distributing the estate to the beneficiaries. They are responsible for managing all these little details in accordance to what the deceased’s wanted.

Formal Approval of the Will

Before anything else, it is of vital importance to obtain a ‘Grant of Probate’ from the Court. This probate will officially accept the will and the executive powers that fall under it. In simple terms: this confirms your position as executor. In some cases, you might not need to get a probate, but in some cases (especially if there is a dispute), you will need the court’s approval.

All The Possible Duties

Your role will vary on what the will states. This can vary from person to person, so your role as executor can change. The most common responsibilities include:

Securing the assets of the estate
Conduct evaluations of the property and estates
Manage all possible debts and secure payments for future
Establish or administer any trusts that are created in the will
Distribute the estate, assets, and properties to members and persons mentioned in the will
Provide in-depth statements of all distribution to members

You will also have to notify key government departments (including transportation authorities, city councils, Centrelink), as well as major companies (banks, insurance, superannuation and utility organisations) and inform them about the deceased. You will have to cancel their accounts or manage a transition of them.

Managing The Role

Being an executor is not always easy, you can struggle with the pressure of handling all the tasks, managing the accounts, paying debts and dealing with beneficiaries. There is also the chance that your role can be challenged and disputed; which will lead to more stress. If the role is too demanding for you, it is advisable to seek legal advice from a lawyer. They will be able to help you manage the position.

When it comes to facing issues with wills, estates, and probates, Mirabellas Solicitors can help you. With our years of experience, we can make the difference for your case.

First Consultation Free

Legal Aid Melbourne

We understand your plight as you must be concerned about the reliability and expertise of the legal aid lawyer. Legal matters are complicated and it is very crucial that we hire the best Melbourne legal aid.

Victorian Legal Aid

If you are facing legal trouble, irrespective of its nature, this blog post is curated to help you understand Victorian Legal Aid and how it can help you navigate through your legal matters.

Will Lawyer Near Me

Without a Will, the property distribution is up to the court, deciding everything. Therefore, a person needs to create a Will. Will Solicitors can help people draft a Will, etc.

About Us

Mirabellas Solicitors is an experienced law firm in Melbourne that focuses on providing its clients with consistent professional levels of services. Mirabellas Solicitors is here to listen, answer & provide advice. For over 30 years Mirabellas Solicitors have been providing advice and assistance to people.

Quick Link

Area We Serve

What Happens When You’re Named An Executor Of A Will?