Your role as an executor of a Will

As an Executor your obligations include, but are not limited to:

• following the directions provided by the deceased under the Will;

• attending to the timely administration of the estate;

• collecting in the estate assets;

• paying the estate liabilities;

• protecting the estate from loss;

• finalising the taxation of the estate;

• keeping the beneficiaries informed of the progress of the estate;

• avoiding any conflict of interest between your personal interests and the interests of the estate;

• notifying relevant persons and institutions of the passing of the deceased;

• distributing the assets to the persons entitled under the Will.

You are entitled to seek advice where necessary to fulfil your role as Executor. For example, you may wish to seek legal and accounting advice. You may also require the services of a real estate agent or conveyancer if you are required to sell a property. A prudent Executor will obtain advice before acting in relation to the estate to ensure that they are aware of their legal obligations and can administer the estate in a timely manner. The role of Executor can be very demanding and time consuming, you should consider whether you are able to dedicate yourself to the role before undertaking it.