Your executor is the person responsible for carrying out your Will. It is an important role, but the best choice is not always the oldest relative or the person who lives closest to you.
What does an executor do?
An executor may need to locate the original Will, arrange the funeral, secure property, identify assets and debts, apply for probate where required, deal with banks and other institutions, attend to tax and liabilities, keep appropriate records and distribute the estate according to the Will.
Qualities to look for
Choose someone who is trustworthy, organised, willing to communicate and able to act impartially when emotions are high. Consider their age, health, location, availability and relationship with the beneficiaries. Financial or legal expertise can help, but it is not essential because an executor can obtain professional assistance.
Can an executor also be a beneficiary?
Yes. It is common for a spouse, adult child or other beneficiary to act as executor. The important question is whether that person can manage the responsibility and any potential conflict fairly.
Should I appoint more than one?
You can appoint joint executors and also name substitutes. Joint appointment can provide shared responsibility and continuity, but it may slow decisions if the people do not communicate well or live far apart. The Supreme Court generally issues a grant to no more than four people for the same property.
Always name a backup
A substitute executor can step in if your first choice dies before you, loses capacity, renounces the role or is otherwise unable to act. Review your appointment after major life changes so the people named remain appropriate.
To discuss the right executor structure for your Will, call Hemmings Legal on 0466 028 844 or book through our website.
General information only. Obtain advice for your circumstances.
Sources for review:
Supreme Court of Victoria Probate Office FAQs
Administration and Probate Act 1958 (Vic), including sections 13 and 28