Cue the Executor

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Who plays the role of Executor, and what part do they play?

Think of Batman’s butler, the only suitable person who could have made sure all the Wayne’s family property and assets were sorted, so little Bruce could grow up in a lavish estate. He’s definitely a smart cookie, and he fits the mould perfectly for the type of Executor you’ll need to appoint to administer your estate. Your Executor is the one who makes sure your wishes are followed to a T, and that any outstanding bills are paid, gifts are handed out, and Guardians are appointed – this is referred to as ‘administering your estate’. You can choose anyone (over the age of 18) to be the Executor in your Will. The role is usually played by someone you trust, and is in tip-top shape for the job. This can be a friend, family member, or an independent trustee company such as Perpetual Guardian.

Your chosen Executor has a complex part to play, so it’s important they understand their legal responsibilities. They’ll need to have a solid understanding of business, tax and accounting to be able to do the role well – they also need to be aware that they could be personally liable for any legal mistakes they make. Duties of an Executor also include heading over to the Court to get legal authority to administer your estate. Getting this type of authorisation is called ‘Probate’, which is the process of making sure your Will is a legally valid document, and that your chosen Executor is lawfully allowed to distribute your assets.

For more info on what you should know before starting your Will, or if you have any other questions about what an Executor can or can’t do, head over to our FAQ page here.

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