The executor is the person responsible for organising your funeral, telling loved ones you’ve passed away, engaging a solicitor to obtain probate, collecting your assets, discharging any debts and making sure the beneficiaries in your Will receive what they’re entitled to.
You can appoint up top 4 people, however there’s a lot to be said about keeping it simple and appointing just one trusted person. If you decide to appoint more that one executor, you will need to bear in mind that we need to often obtain multiple signatures, confirm multiple sets of instructions and this can of course increase the time and cost of administering an estate.
If you’re in a relationship, you may wish to appoint your partner to be your executor in the first instance.
If you’re flying solo, you may wish to appoint one or more trusted children or other loved ones.
If you decide to appoint a trusted friend, or someone you don’t intend to benefit in your Will, you may wish to make a gift of a sum of money for the executor’s pains and trouble in administering your estate.
Importantly, it is wise to appoint a back-up in case your first choice or choices are unable or unwilling to take on the role due to death or incapacity.
If you have young children, the people you nominate may simply turn out to be place markers until such time that your children are old enough to take on the role. We can update your Will at that time.
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PO Box 569, Port Macquarie NSW 2444
PORT MACQUARIE
Level 1, 2 Horton Street, Port Macquarie NSW 2444
02 6583 4312