Quick Guide To The Role of Executor

When a person passes away, an individual or a number of individuals will be appointed in their Will to distribute their estate – these people are known as executors. From a practical point of view, only one or two people should be named as executors in a Will.

The role of the executor includes ensuring all debts of the deceased are paid and ensuring their assets are distributed, as they would have wished them to be.

In order to ensure this process runs smoothly, often people choose to name a solicitor as their executor. Professional executors such as a solicitor may charge a fee for their expertise in administering estates and professionalism in carrying out the process.

If you have been named the sole executor on an estate, you should consult a solicitor to ensure you understand the role you are meant to carry out and that you are doing it properly. Administering an estate can be more complex than it seems and as the executor you would be held liable if you get it wrong.

Are Executors Paid?

Executors will normally only be paid for their services where the Will provides that they should be. However, executors do have the right to apply to the Supreme Court for commission regardless of what is provided for in the Will. However, the Court will usually not award you any payment if you are also a beneficiary under the Will.

Do I have to be an Executor if I'm named in the Will?

If you do not want to be an executor, you can sign a formal renunciation form in the Supreme Court of NSW that will relieve you of your duty. You must complete this form as soon as possible as you may not be able to renounce the role if you have completed some of the executor's duties. A solicitor can assist you in filling out the form.

Contact Us

If you have been appointed as an executor or for any other matters relating to Wills, Estates and Contesting a Will, contact Szabo & Associates Solicitors today. At Szabo & Associates Solicitors we can help advise on all aspects Wills and Estates Call us on (02) 9281-5088 or fill in the contact form to the right of this page.