Choosing the right executor
This is one of the most important decisions to make when writing your will.
Your executor will be responsible for managing your assets after you die and distributing them according to your wishes. It is often a time-consuming and demanding role. It can also be very emotionally draining, especially if they were close to you.
What does an executor do?
An executor is the person or organisation you appoint to be responsible for impartially carrying out the wishes you state in your will.
Your executor makes sure your estate is dealt with according to your wishes. This can be quite complicated, even with the most straightforward estates. Your executor will need to:
- identify all your assets and liabilities
- apply for probate
- prepare tax returns for you and your estate
- defend your estate from any legal claims
- mediate and resolve any disputes between beneficiaries
- distribute the proceeds of your estate.
Who can be an executor?
Someone you trust with capacity to administer complex legal and financial affairs.
Some people choose a family member or a close friend to act as their executor. Although this is often seen as an honour, it can be an onerous and stressful task, especially if there is potential for a family dispute.
Can an executor be a beneficiary of the estate?
However it is important to remember it can be a time-consuming and complicated role. It can also become very difficult if an executor’s impartiality will be called into question when their interests are conflicted. For example, if there is a dispute between an executor and another beneficiary over property left to an executor.
State Trustees is experienced and impartial
Choosing State Trustees as executor gives you an independent, impartial executor with an immense amount of experience in this area.
We can fulfil all the duties of an executor, handle estate administration and the distribution of your estate in a professional, impartial way. Our only interest is to ensure your final wishes are carried out as you want. We focus on getting the best outcome for you and your beneficiaries.
How can State Trustees help?
State Trustees administers more deceased estates than any other organisation in Victoria. Our expertise and experience means you don’t have to place an extra burden on the people you care about.
If you choose us as executor, our trusted team of experts will remove the stress and the emotional burden from those who are grieving.