Being named as an executor in someone’s will is both an honour and a significant responsibility. This comprehensive guide outlines the duties of an executor in Australia and provides a practical checklist to help navigate this important role with confidence and clarity.
What Is an Executor?
An executor is the person appointed in a will to administer a deceased person’s estate. This role involves gathering assets, paying debts and taxes, and distributing the remaining estate to beneficiaries according to the will’s instructions.
Serving as an executor can be complex and time-consuming, often taking months or even years to complete, depending on the estate’s complexity. Understanding what’s involved before beginning can help executors prepare for the journey ahead.
The Executor’s Role in Australia
In Australia, an executor’s duties are governed by state and territory legislation. While specific requirements may vary by jurisdiction, the fundamental responsibilities remain consistent across Australia.
The executor acts as the legal representative of the deceased person’s estate, with the authority to:
- Locate and review the will
- Apply for probate when required
- Identify and collect estate assets
- Pay debts, expenses, and taxes
- Distribute remaining assets to beneficiaries
- Maintain detailed records throughout the process
Many people agree to become an executor without fully understanding the scope of responsibilities involved. The following checklist aims to provide clarity and support for those undertaking this important role.
Complete Australian Executor Checklist
Immediate Steps (Within the First Few Days)
- Locate the original will and review its contents
- Arrange the funeral according to any wishes expressed in the will
- Secure the deceased person’s home and valuable possessions
- Redirect mail if necessary
- Notify immediate family members and close friends
- Consider obtaining multiple certified copies of the death certificate for future use
- Begin compiling a list of assets, liabilities, and beneficiaries
- Notify the deceased’s employer and request information about outstanding entitlements
- Arrange care for any pets
- Check home and contents insurance is current and the insurer is aware the property is unoccupied
Financial and Administrative Tasks (First Few Weeks)
- Open an estate bank account for receiving funds and paying expenses
- Notify relevant government departments (Centrelink, Department of Veterans’ Affairs, etc.)
- Contact the Australian Taxation Office regarding tax matters
- Notify banks, credit unions, and financial institutions
- Determine if probate is required (based on estate value and asset types)
- Begin preparing documentation for a probate application if needed
- Contact superannuation funds to identify death benefits
- Notify life insurance companies and initiate claims
- Cancel services and subscriptions:
- Driver’s licence and vehicle registration
- Medicare and private health insurance
- Utilities (electricity, gas, water)
- Phone and internet services
- Streaming services and subscriptions
- Club memberships
- Redirect remaining mail to your address
- Check for any pre-paid funeral arrangements or funeral bonds
- Identify any trusts where the deceased was a trustee
- Check for any powers of attorney that need to be cancelled
Creating a Detailed Estate Inventory
- List all bank accounts and financial institutions
- Identify investment accounts (shares, managed funds)
- Document superannuation accounts and death benefits
- List life insurance policies
- Create inventory of real estate properties with title details
- Document vehicles, boats, and other registered assets
- Identify valuable personal possessions (jewellery, artwork, collectibles)
- List digital assets (online accounts, cryptocurrency, etc.)
- Document business interests or partnerships
- Identify intellectual property rights
- List all outstanding debts and liabilities
- Check for overseas assets
- Verify joint assets that may pass directly to the surviving owner
Applying for Probate (If Required)
- Determine if probate is required based on:
- Total value of the estate
- Types of assets owned
- Requirements of banks and share registries
- Complete the necessary probate application forms for your state/territory
- Place probate notice in required publications
- Submit probate application to the relevant state/territory Supreme Court
- Pay probate filing fees
- Respond to any queries from the court regarding the application
- Receive Grant of Probate from the court
Managing the Estate (After Probate)
- Provide certified copies of probate to all relevant financial institutions
- Transfer or sell assets according to the will’s instructions
- Lodge any outstanding tax returns for the deceased
- Pay all valid debts and liabilities from estate funds
- Determine if estate tax return is required and lodge if necessary
- Keep detailed records of all financial transactions
- Consider placing a deceased estate notice to protect against unknown creditors
- Manage estate investments during administration period
Property Management
- Secure and maintain properties until sold or transferred
- Arrange for:
- Regular property inspections
- Garden maintenance
- Ongoing utility services as needed
- Redirection of mail
- Review and maintain appropriate insurance coverage
- Organise professional valuations if required
- Prepare property for sale if required (cleaning, repairs, etc.)
- Engage real estate agents if property is to be sold
- Transfer property titles to beneficiaries or purchasers
Digital Asset Management
- Identify and document all digital accounts
- Close or memorialize social media accounts according to platform policies
- Address email accounts according to provider policies
- Manage online banking and financial accounts
- Identify and transfer or close subscription services
- Access and secure digital photos and documents
- Manage cryptocurrency assets if applicable
- Consider digital legacy instructions in the will
Asset Distribution
- Create a distribution plan based on the will’s instructions
- Consider timing of distributions (interim vs. final)
- Prepare and send notices to beneficiaries
- Transfer specific bequests to named beneficiaries
- Distribute residuary estate according to will provisions
- Obtain receipts from beneficiaries for distributed assets
- Address any complaints or challenges from beneficiaries
- Provide statements of distribution to relevant beneficiaries
Final Administration
- Prepare final accounts for the estate
- Ensure all tax obligations have been fulfilled
- Close the estate bank account once all funds have been distributed
- Retain estate records for the period required by law (typically 7 years)
- Prepare final report for beneficiaries if appropriate
- Address any final questions from beneficiaries
Special Considerations for Executors
When to Seek Professional Help
Consider engaging professional assistance if:
- The estate is large or complex
- The will is contested or likely to be challenged
- There are complex assets such as businesses or trusts
- There are overseas assets
- The estate involves complex tax matters
- There are family disputes or potential conflicts
- You’re unfamiliar with legal and financial procedures
- You live far from where the estate needs to be administered
Timeframes to Consider
While each estate is unique, executors should be aware of typical timeframes:
- Probate application: 2-8 weeks after death (preparation and submission)
- Receiving Grant of Probate: Typically 2-6 weeks after application
- Estate administration: 6-12 months for straightforward estates
- Complex estates: May take several years to fully administer
- ATO requirements: Final tax returns due by standard deadlines
- Creditor claims: May need to allow 6 months before final distribution
Managing Executor Expenses
As an executor, you may incur expenses while administering the estate:
- Keep detailed records of all expenses
- Only use estate funds for estate-related expenses
- Maintain separate personal and estate finances
- Document your time spent if claiming executor’s commission
- Obtain quotes for professional services before engagement
- Consider beneficiary approval for significant expenses
Self-Care for Executors
Serving as an executor while grieving can be challenging:
- Set realistic expectations about timeframes
- Consider delegating certain tasks to professionals
- Take breaks when needed
- Maintain communication with beneficiaries to manage expectations
- Seek support from friends, family, or counselling services
- Accept that the process takes time and requires patience
Understanding Executor’s Rights
In Australia, executors have certain rights that help them fulfill their duties:
- Right to reimbursement for reasonable expenses from estate funds
- Right to apply for executor’s commission in certain circumstances
- Right to seek legal and financial advice paid from the estate
- Right to reasonable time to properly administer the estate
- Right to sell assets to pay debts when necessary
- Right to access the deceased’s financial information
Executor’s Liability
Executors should understand their potential liabilities:
- Personal liability for estate losses due to negligence
- Responsibility for unpaid estate taxes in some circumstances
- Liability for improper distribution before debts are paid
- Responsibility for maintaining proper records
- Obligation to treat beneficiaries fairly and according to the will
Conclusion
Serving as an executor is a significant responsibility that requires attention to detail, organisation, and patience. While the process can seem overwhelming, breaking it down into manageable steps helps create clarity and direction.
Remember that executors aren’t expected to handle everything alone. When needed, seeking professional guidance from solicitors, accountants, or professional executor services can provide valuable support throughout the estate administration process.
This checklist provides a framework to help executors navigate their duties with confidence and care, honoring the trust placed in them by the deceased.
Disclaimer: This information is general in nature and does not constitute legal, financial, or tax advice. Estate administration varies by jurisdiction and individual circumstances. This checklist is intended as a general guide only. Specific advice should be sought from qualified professionals regarding your particular situation. Legasy does not provide legal, financial, or tax advice.