What Is Required to Be a Successful Executor of a Will?

When a person passes away, their chosen executor becomes responsible for carrying out the instructions in their Will. The executor is the deceased’s legal personal representative, and the only person authorised to act on behalf of the estate. It is a position of trust, requiring diligence, organisation, and an understanding of legal obligations.

Key Responsibilities of an Executor

An executor’s duties begin with locating the original Will and arranging the deceased’s funeral according to their wishes. They must obtain the death certificate, identify and notify all beneficiaries, and collect the deceased’s assets. This includes bank accounts, real estate, investments, and personal items.

Executors are responsible for paying outstanding debts and expenses, lodging any final tax returns, and, once probate is granted, distributing the remaining assets in accordance with the Will. They must also inform relevant institutions such as banks, Centrelink, superannuation funds, and insurers of the death and maintain accurate records throughout the process.

At every stage, the executor has a fiduciary duty to act in the best interests of the beneficiaries and to follow the terms of the Will faithfully.

Who Can Be an Executor?

A Will-maker should appoint someone they trust and respect, ideally a person who is organised, impartial, and capable of managing financial and legal tasks. Traditionally, close relatives or friends are appointed; however, many people now choose lawyers, accountants, or the State Trustee to remove stress and potential family conflict. It is important to note that an actual person or company (such as a law firm or state trustees) can be nominated to act in this role.

An executor may decline the role if they feel unable to fulfil it—common reasons include living interstate or overseas, lack of time, or concerns about family disputes or personal liability. If they wish to step aside, this must occur before they start administering the estate. Another executor or solicitor can then take over the role.

Managing the Deceased’s Affairs

A successful executor must oversee three key areas of the deceased’s affairs:

1.      Personal Matters – Arranging the funeral and ensuring the deceased’s wishes are respected while maintaining estate assets until distribution.

2.      Financial Matters – Gathering and protecting the estate’s funds, notifying financial institutions, and paying liabilities before distributing what remains. This includes maintaining real estate, preserving valuable items such as jewellery or vehicles, and arranging valuations or sales where required.

3.      Legal Matters – Handling probate and, where necessary, responding to disputes or challenges. Executors may need to deal with beneficiaries who feel unfairly treated. They must act neutrally, defend the estate when required, and finalise administration within a reasonable timeframe.

When There Is No Will

If a person passes away without leaving a valid Will, they are said to have died intestate. In these cases, there is no appointed executor, so a next of kin (i.e. a spouse, domestic partner, or close family member) must take responsibility for managing the estate. This person must apply to the Supreme Court of Victoria (or the relevant state court) for Letters of Administration, which authorise them to act in a similar capacity to an executor.

Once appointed, the administrator must identify and value the deceased’s assets, pay any debts and liabilities, and distribute the remaining estate according to the rules of intestacy set out in legislation. These laws determine who is entitled to inherit, following a set hierarchy – spouse or domestic partner, children, parents, siblings, nieces and nephews, grandparents, aunts and uncles, and finally, the State.

Final Thoughts

Acting as an executor is an important responsibility that can involve legal, financial, and emotional challenges. Proper guidance from an experienced estate lawyer can make the process smoother, protect the executor from liability, and ensure the estate is administered correctly.

For tailored advice or help preparing a Will or probate application, contact Kenney Legal to discuss an estate plan that safeguards your wishes and provides peace of mind.

Please note, this article is general in nature and does not take into account your personal situation or circumstances. For further information please contact Kenney Legal at info@kenneylegal.com.au or contact us via our social media networks.