What's happening?
Being appointed executor of a will carries a range of legal and practical responsibilities, from locating and valuing assets to paying debts, dealing with tax matters and ultimately distributing the estate to beneficiaries. Executors are generally expected to act in the best interests of the estate and its beneficiaries throughout this process.
What could it mean for me?
- Executors can be held personally responsible if they fail to properly administer the estate
- Debts and liabilities of the estate generally need to be dealt with before final distribution
- Beneficiaries may raise concerns or disputes if they consider an executor is not acting properly
- Executors may need to obtain a grant of probate before certain assets can be accessed
What are my options?
- Seek advice early on your obligations as executor before taking action
- Keep clear records of all steps taken and estate funds handled
- Communicate with beneficiaries about the general progress of the administration
- Consider engaging a solicitor to manage aspects of the administration on your behalf
What happens next?
- We explain your duties and the general steps involved in administering the estate
- We assist with locating and valuing assets and identifying liabilities
- We help prepare any required Supreme Court applications
- We assist with finalising tax matters and distributing the estate
How can MGE Lawyers help?
MGE Lawyers supports executors throughout the administration process, helping them understand their obligations and manage the practical and legal steps involved.
Where an executor prefers not to manage day-to-day administration personally, we can carry out much of that work on their behalf under their instructions.