Executor of a Will responsibilities and duties

Executor of a Will responsibilities and duties

What is an executor

The executor is the person the deceased appoints by their Will to administer their estate.  Family members or close relatives are the usual choice to act as executors.

When choosing an executor, the factors to be considered include:

• The risk of conflict between the executor’s duty to the estate and their personal     interest; and
• The executor’s commitment and ability to managing the estate.

Appointment of Executors

To manage the deceased’s estate, the executor must obtain a Grant of Probate of the Will from the Supreme Court of Western Australia. The grant is the Executors authority to deal with the estate

Probate can be granted to one or more executors named in the Will.

The executor’s obligations

Once Probate is granted, the executor has the authority to administer the deceased’s estate and is responsible for:

• Establishing what is in the estate
• Getting the estate in (putting all the assets into the name of the Executor)
• Paying all duties, fees and debts of the deceased;

Notifying all beneficiaries of their entitlement under the Will;

• Distributing the estate as provided by the Will;

The executor’s primary responsibility is to deal with the estate as provided by the Will.

What if I do not want to be executor?

A person named as an executor can renounce their right to take probate of the Will.  This is known as  “renouncing probate,” . The renunciation is usually lodged at the Supreme Court .

Formbys has extensive experience dealing with Estates and providing advice on all areas of Probate, Letters of Administration and Family Provision Act 1972 (WA) matters.  You can  contact us with your questions on this subject.

Disclaimer: This article provides a general summary, outline of the subject matter and does not constitute legal advice. The laws may change and circumstances may differ. Therefore, you should seek independent legal advice for your specific circumstances.