Basic Duties of an Executor

PLAIN ENGLISH DUTIES OF THE EXECUTOR

While this is a deeply sad time, you as executor have been charged with the responsibility for administering the estate as timely as possible. You have a duty of care to the deceased’s estate and the beneficiaries. It is essential that you know exactly what has to be done and you must always act promptly. You should be mindful that should you not act promptly or live up to the requirements of your role, you may be liable for losses. It is important to remember that you can always call on a solicitor for advice or to assist you with the responsibility you have been charged with.

Costs of having a solicitor to assist you to administer the estate are usually covered by the estate. You must remember that these costs do not diminish your responsibility to administer the estate prudently and effectively, in fact it is usually more prudent and effective for an Executor to engage a solicitor, and be sure all steps are taken.

Some of the duties of an executor may include:

1. Locate and examine the original Will;
2. Check for funeral instructions, arrange funeral, confer with family, ensure the Funeral Director orders a Death Certificate;
3. Obtain details and conduct a full audit of all of the deceased’s assets and liabilities, including tax liabilities, keeping a comprehensive and full list of all details;
4. Protecting property, ensuring it is secured and insured;
5. Obtaining valuations of assets;
6. Contacting Insurers, Centrelink or Veteran Affairs;
7. Applying to the Supreme court for a Grant of Probate;
8. Contacting beneficiaries of the estate to advise as to entitlements under the Will;
9. Paying all debts owing prior to death and any incurred during the course of administering the estate, including all tax liabilities;
10. Making distributions to beneficiaries in accordance with the Will at the appropriate time or if the estate is taking a longer time to administer, ensure you make partial distribution, especially if advised by your lawyer;
11. Any other additional duties that may be listed in the Will.

Remember it is prudent that you seek advice from an experienced solicitor to protect yourself as executor and the deceased’s estate, to which you have been charged with a duty of care. You may also choose to engage the Solicitor to assist you with the execution of the estate.

If you would like more information please contact Robert Bakker at rb lawyers.

N.B. Do not give the original document to anyone except the Supreme Court for probate, only supply a certified copy to everyone else and ensure that the original copy is always kept in a safe place free from fire, flood or accidental damage. 

If you need advice or assistance with your new venture, or if you unsure of your rights with your current lease, then contact RB Lawyers.