12 Oct How Does An Executor Of Will In NSW Work?
If you live in New South Wales and you have final wishes laid out for the event of your death, you need to find a reliable executor of will in NSW to ensure that said wishes are honoured. It is essential that you see to this so that you can be confident that your final wishes will be honoured in a timely manner without any undue stress or fuss.
There are many different types of people who can serve as an executor of will in NSW. This can be a family member, a close trusted friend, a trustee company, or a professional lawyer who is a specialist in this area.
It is a significant responsibility, and it is not uncommon for people to refuse the role when they are asked, or for people to not trust their friends or family to handle it. It requires legal, fiscal, and communication skillsets, and is not something that just anyone can do competently.
What exactly do they do?
The fundamental role of an executor of will in NSW is to oversee the administration of your last will and testament. This entails several responsibilities, including:
- Obtaining the document. They will normally be informed by the deceased party prior to their death of the location of the document.
- Planning the funeral. This means that the executor of will in NSW needs to ensure that the funeral arrangements elected by the deceased are honoured. This is ideally completed as quickly as possible following the confirmation of death. The wishes needed to be followed to the letter, as it is illegal to do something contrary to the wishes of the deceased. When the funeral is organised, the family should be consulted.
- Getting probate is another important thing an executor of will in NSW has to do. Probate is essentially a verification that the document is totally valid and legal, allowing for the terms within it to be followed. Probate needs to be obtained before the document can be read and people can be informed about what they get from the document.
- Making sure assets are protected. The executor of will in NSW needs to do their best to protect assets and the interest of the deceased.
Who should be an executor of will in NSW?
As stated, it can be anyone who the deceased chooses, as it is their decision on who to trust with this important task. Because there are so many important responsibilities, it’s not a task that someone who is not very reliable should be trusted to carry out.
If someone is slow in acting as an executor of will in NSW and fails to get probate in a reasonable time period following a death it can cause a lot of issues. They can also be legally responsible for any losses incurred during this time due to their inaction.
Therefore, many people have chosen to trust professional lawyers to act as their executor of will in NSW. They do this because they want to have peace of mind that when they die, their affairs will be handled in a totally professional manner by someone with experience.
When the task is handled by an experienced professional like a solicitor, everything is done much faster and the family of the deceased can put the matter to rest sooner. A lengthy process will only make the emotional trauma of death last longer since the affairs are still out of order and not moving forward.
Ultimately, choosing an executor of will in NSW is a very important decision and will have a big impact on how effectively your final wishes are honoured.