What is the role of an executor and who should I appoint?

Appointing an Executor is more than just an honour; it is a job. Your Executor steps into your shoes to wind up your life’s affairs.

Key Responsibilities

1. Funeral: Arranging the service and burial/cremation.
2. Assets: Locating and securing all assets (house keys, car, bank accounts, shares).
3. Probate: Applying to the Supreme Court for Probate if required.
4. Debts & Tax: Paying all outstanding bills, credit cards, and lodging your final tax return.
5. Distribution: Paying the inheritance to the beneficiaries in accordance with the Will.
6. Trusts: Managing any trusts set up for minor children.

Liability

The Executor can be personally liable if they get it wrong. For example, if they distribute the money to the beneficiaries but forget to pay a tax bill, the ATO can sue the Executor personally for the debt.

Who Should You Appoint?

• Family: Most people appoint a spouse or adult children. Ensure they are getting along.
• Professional: If your family situation is complex (e.g., conflicts, second marriages) or your estate is large, appointing a lawyer or trustee company as an independent executor can describe conflict.
• Age: Choose someone likely to outlive you.
• Capacity: Choose someone organised and financially literate.

Can an Executor Get Paid?

Generally, the role is unpaid (gratuitous). However, an Executor can apply to the Court for “Executor’s Commission” (payment for their trouble) if the administration was complex.¹

Related Topics

• Probate process
• Dying without a Will
• Wills & Estates Practice Area

Professional Guidance

Whether you need to appoint an executor or you are an executor needing help, Bell & Senior provides expert assistance.

Executor questions? Contact us for advice. Call (07) 5532 8777.