A guide for Executors of a will

Welcome to the only resource for DIY Executors of a will

Welcome to WillsExecutor.com, a short practical guide for DIY Executors of a will in Australia. The truth is being an executor of a will be one of the hardest things you will ever do at an incredibly difficult time. Other than paying tens of thousands for a lawyer or public trustee there isn't much help for executors, that's why we built this site. Our practical hints and tips have been compiled by an executor who has also spoken with many other executors on the difficulty of the role.

It is NOT legal advice, and not intended to be so.

12+ months

$50,000

Minimum cost of using a third party as an executor

Minimum time to complete executor duties

What to expect as an Executor of a will

Up to 50%

Up to 50% of wills are contested in Australia

Over 10%

Estimated number of wills with legal challenges

250+ hours

Minimum hours spend by an executor to close estate

80+ accounts

Average number of accounts to be closed for each testator

Quick FAQs for Executors of a will

What is an executor of a will?

An executor is the person (or company( nominated by a testator (will owner) to manage their estate after death.

What is the role of an executor?

The executor is legally responsible for filing for probate, locating and notifying beneficiaries, securing and distributing assets, paying debts and tax plus closing all accounts owned by the Testator.

Who can be an executor?

Anyone aged over 18 years of age or a company.

Can a beneficiary be an executor?

Yes a beneficiary in a will can also act as the executor. This is very common especially where family members act as an executor.

How long does to take to finish being an executor?

The role will take years to complete, this varies by size of estate, potential disputes of the will and number of accounts to be closed.

Can I hire someone to act as an Executor?

Yes you can hire a lawyer or Public Trustee in your state.

Do I get paid as an Executor?

You can be reimbursed for hours worked so be sure to keep records of your time and expense receipts. Any money paid to you is removed from the estate and can be contested by beneficiaries.

How much does it cost to hire an Executor?

These generally charge approximately 5% of the estate value which quickly adds up to ten of thousands of dollars with estates having a property

What happens if the will is contested?

A will can be contested directly with the executor by a beneficiary or by a lawyer. representing the beneficiary. Legal contests can cost thousands of dollars to all parties.

Can a will have multiple executors?

Yes, and the structure of these executors means they can either make decisions individually or both are required to agree on a decision.

When should I start planning?

Now. make sure the Testator has a valid will when they are young, inform the executor(s) know they have been nominated for the role and they know the location of the will.

Should I regularly review with the testator?

Yes, discuss the testators wishes for how their estate should be distributed as soon as the will is written and review each year. Capture this information formally in Estate Management tools such as XYZ and ABC

More detailed help can be found in dedicated sections

Duties of an Executor

What to do immediately after death of the Testator

Wills

Contested Wills

Power of Attorney

Probate

Beneficiaries

Pets

Public Trustees

Closing Accounts and distributing assets

Executor and Estate Management Tools

Paying Debts and Tax