Explained: Who Should You Appoint As Executor Of Your Will?

Executor of Will

Brought to you by The Public Trustee

As we move through life, celebrating times of excitement like marriage, moving house, or having children, it is important to give some thought to the lesser known but equally important things such as who should you appoint as Executor of your Will?

The role of Executor is very important as they are legally responsible for finalising (administering) your estate after you die, according to the terms of your Will, so it’s worth giving it some thought.

You might think the best person to appoint as your Executor is your partner, a family member or close friend, however doing this can mean you are placing a complex, time-consuming, stressful burden on someone who is grieving following your death.

You may also feel pressure to nominate multiple Executors so as to not hurt someone’s feelings by not appointing them, but this can lead to problems, conflict and difficulties administering your Estate.

The tasks your Executor may need to carry out typically include preparing tax returns, preparing financial statements, selling or transferring assets, paying estate debts and distributing the estate.

This is not an exhaustive list–your Executor may also have to carry out a range of other legal and administrative duties.

There is a safe, stress-free and sensible alternative, and that is to appoint the Public Trustee as your Executor. As well as preparing your Will at no cost, the Public Trustee provides an impartial, comprehensive and professional Executor Service.

The Public Trustee’s fee to act as Executor is a competitive fee for service (not a percentage of the estate) which is paid out of your estate when it is administered, so there is nothing for you to pay during your lifetime, and no out-of-pocket costs for your family or friends following your death.

Also, appointing the Public Trustee as Executor of your Will removes the burden of carrying out the work required to administer your estate from family and friends, leaving them free to concentrate on recovering from their bereavement.

Our experienced and professional staff administer over 2,500 estates each year, so you know your estate is in good hands with us. To find out more about the Public Trustee’s services, or to make an appointment, contact us on 1300 360 044 or visit our website. Trust us to be there when you need us.

Nerelle Harper

Nerelle is a contributor for QN Magazine and QNEWS Online

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