Navigating the loss of a loved one is never easy, Our lawyers work closely with you to ensure a smooth administration of the estate.
Affordable Estate Administration
Engaging a reputable estate solicitor can help take the stress off your shoulders. The main duty of an Executor who has been appointed under a Will is to call in and administer the estate. This is often very daunting and can be very complex whilst still trying to grieve for the lost loved one.
Helping You Navigate Estate Administration
We've been helping to call and administer estates since 1983. Our extensive experience and dedicated estate lawyers understand the emotional, financial and other complexities involved when it comes to a loved one passing away.
Whether you need to apply for Probate or Letters of Administration, call in the estate, transfer property or organise the tax affairs of your loved one, we're here to help.
Even if you're simply after a free consultation, it's worth sitting down with one of our team members so that you can get the guidance that you need.
For a guide on:
administering estates, click here
urgent collection of sperm from a deceased person, click here
capital gains tax and deceased estates, click here
a trustee's duty to invest (especially for minor beneficiaries), click here
The Role of an Executor
An executor of a Will is the person responsible for managing a deceased person's according to their last wishes.
The primary duty of an executor is to act as a representative of the deceased, overseeing their financial, personal, and legal matters, a process commonly known as executing or administering a Will.
What are the responsibilities of a Will executor?
Being appointed as an executor is a significant honour, but it entails substantial responsibilities.
Executors can be held accountable for errors in the administration of a Will, underscoring the importance of understanding their role.
The six main responsibilities of a Will executor include:
Apply for Probate:
Before officially assuming the role of executor, you must obtain a 'Grant of Probate' from the Court to validate the Will, and secure permission to fulfill the executor's responsibilities.
Preserve Estate Assets:
Safeguard and insure the deceased person's assets, including real estate, cashand other properties, until distribution.
Gather Estate Assets and Pay Liabilities:
Collect all relevant documents related to the estate's assets, such as bank statements, property titles, insurance policies, and debt notices. Settle outstanding debts and obligations.
Defend the Estate in Legal Proceedings:
If legal challenges arise, act as the estate's legal representative. Possible challenges include family provision applications and caveats over the estate. Seek legal advice when necessary.
Manage Income Tax Affairs:
Notify relevant authorities of the deceased's death, file a final tax return, and, if applicable, submit a 'trust tax return' for estate income. Collaboration with a licensed accountant is advisable.
Follow the instructions outlined in the Will to distribute assets to beneficiaries. Ensure all assets are properly accounted for, preserved, and distributed within legal time frames.
What rights does a Will executor have?
Executors possess two primary rights:
Executors may seek compensation, known as executor's commission, for the time and effort expended. The commission, typically ranging from 0.5% to 3% of the estate's value, requires approval from beneficiaries or the court.
Right to Decline:
Executors are not obligated to accept the role. If declined, another executor can assume duties, or a court-appointed administrator may step in if no alternative is specified.
For guidance on Will administration, contact our experienced wills and estates lawyers for informed decision-making and efficient results.
Need Assistance Today?
We have experienced Will and estate lawyers across Queensland.
We deal with complex estates and preparation of Wills.
We're affordable lawyers and often offer fixed fee quotes so that you know exactly what is ahead.