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Things to Consider Before Choosing Your Executors

Things to Consider Before Choosing Your Executors

An executor is the person you appoint in your Will to collect your assets and administer your estate on your death.

What is an executor?

An executor is the person you appoint in your Will to collect your assets and administer your estate on your death.

Who Should I Appoint as My Executor?

There are a number of factors you should consider when deciding who you should appoint as your executor:

  • Are they likely to outlive you?
  • Are they likely to have the time to administer your estate?
  • Do they live in Australia or are they likely to live overseas?
  • Is it likely they will want to charge the estate for their services?

How Many Executors Should I Appoint in my Will?

It is best to appoint more than one executor in case the person you appoint is unable to act due to death, not being capable or not being willing. It is also safest to appoint people who are younger than you who you expect will be capable of the tasks required when you die.

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What Happens if I do not Appoint an Executor in my Will?

The Court may appoint the administration of your estate to a person entitled in your Will to the residue or some other share of your estate. Alternatively, the beneficiaries may ask the Court to appoint the Public Trustee or a private trustee company. The Public Trustee may be appointed by the Court if there is no-one willing or able to take on the role.

Does a Person I Appoint as Executor Have to Take on the Role?

A person named in a Will as an executor does not have to take on the role.

What Happens if a Sole Executor Dies After Having Obtained Probate but Before Administration of the Estate has Been Completed?

In this situation, the executor of the deceased executor’s estate becomes executor.

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What Happens if the Sole Executor is Under 18 Years of Age?

If a sole executor is under 18 the Court will appoint the child’s guardian as executor until the child reaches 18 years of age.

Call us now on 8227 1970 to find out how one of our solicitors can assist you with your family law matter.

Family law, divorce, wills and estate specialist family lawyers for Adelaide and South Australia.

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Disclaimer: The information contained in this blog is for informational purposes only and is not legal advice. Nothing in this blog should be deemed to create or constitute a solicitor-client relationship between any readers and Swan Family Lawyers. A solicitor-client relationship is created only when this firm agrees to represent someone and a written engagement agreement or engagement letter is signed by both the client and solicitor. In all cases, the reader should consult his or her own solicitor for advice. The information in this blog is based on Australian law.