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Executor in a will?
- what you need to know

What does an executor do?

Being an executor can be stressful but when you have just lost someone you love, it may be just too overwhelming to deal with.

It's common for people to feel overwhelmed and confused by their responsibilities when someone passes away. An executor is someone accountable for administering a person's estate and distributing the assets according to the will.

Many people find they don’t have the time, expertise or capacity to perform the duties of an executor when they are fully aware of what is required of them. Importantly, If the executor makes a mistake administering the estate, they can be held personally liable for any financial loss. The nominated executor may also decline this role if they do not wish to act, but should do so before beginning to administer the estate.

How Australian Unity Trustees can assist:

Whether you are preparing your will or have been named executor and are seeking assistance, we’re here to help.

Australian Unity Trustees is a licensed professional trustee company, providing traditional trustee services nationally. We can:

  • support you in your role as executor and help with specific tasks in the administration of the estate;
  • act as the executor to administer the estate in your place. We will be subject to all the usual duties and obligations expected of an executor at law;
  • be nominated as executor in your will.

For an obligation free discussion, submit your details

A member of our dedicated team of Australian Unity Trustees professionals will be in contact. We will take the time to understand you – your situation, your needs, and your wishes.

I want help as an executor

How we can help?

Australian Unity Trustees can assist an appointed executor and provide guidance on estate administration.

These services are delivered by estate administration professionals who will ensure the estate is administered correctly and in line with the will.

They will also liaise with all the beneficiaries to ensure they understand the estate administration process and answer any questions during the process. We can assist with the following:

  • Administrative services — such as selling and distributing estate assets (including property).
  • Taxation services — including tax advice on the estate.
  • Legal services — including applying to the courts for the grant of probate.

What this means for you

  • Reduce administrative tasks and simplify the job of estate executor. We will help you through the process to organise the relevant and necessary information.
  • Offset specific tasks to specialists in estate administration, such as legal and financial matters outside of your expertise.
  • Continuity and transparency — receive up to date progress on the estate administration.
  • Independence — we deal with matters impartially and in the best interests of the estate.

I do not want to be the executor

If you do not wish to be an executor, you can decline and appoint a trustee company like Australian Unity Trustees.

How can we help?

Australian Unity Trustees can be appointed as the executor in your place, ensuring highly professional management of the estate administration and any ongoing trust management.

If we are appointed, you can be assured the wishes within the will are followed and the estate will be administered in an efficient and professional way.

What this means for you

  • Protection from personal liability and personal impacts. We will take on full responsibility for administering the estate.
  • Continuity and transparency — receive up to date progress on the estate administration.
  • Independence — we deal with matters impartially and in the best interest of the estate.
  • Our fees are taken out of the estate with no additional cost to you.
  • Convenience — end-to-end administration of the estate.

I need to choose an executor

If you’re in the process of arranging your affairs, it’s important to ensure your assets are protected after you pass away. That includes nominating who will administer the estate.

Many people choose to appoint a close family member as executor of their estate without realising the extent of the burden they are placing on that person.

How can we help?

Administering an estate is rarely straightforward or easy and many people do not have the time, expertise or inclination to perform the duties of an executor.

For this reason, you may choose to appoint an independent trustee company such as Australian Unity Trustees to act as your executor. On your passing, Australian Unity Trustees will administer your estate in line with your wishes in your will. This may include:

  • Interpreting the will
  • Determining beneficiary entitlements
  • Obtaining probate
  • Transferring assets and pay debt
  • Preparing tax returns
  • Preparing financial statements
  • Assisting with funeral payments

What this means for you

  • Remove the stress for family and friends — we deal with matters impartially and can reduce the burden during this difficult time.
  • Peace of mind — Australian Unity Trustees has the relevant expertise that will ensure that the task of administering your estate is done in line with your will.
  • There is no cost to you until you pass away and then our fees are taken out of your estate.

Frequently Asked Questions

Why choose Australian Unity?

focused on wellbeing

180 years

We've been supporting the wellbeing of Australians since 1840.

mutual

Member-owned

We invest in the products and services that matter most to our members, customers and the community.

experience

Wellbeing experts

We've been measuring the wellbeing of Australians for 20 years.

Contact us today

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Call 1800 878 783
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Important Information

This information is provided by Australian Unity Trustees Ltd ABN 55 162 061 556, AFSL 483220. Australian Unity Trustees Ltd is a wholly owned subsidiary of Australian Unity Limited. Any advice on this site is general advice only and does not take into account the objectives, financial situation or needs of any particular person. It does not represent legal, tax, or personal advice and should not be relied on as such. You should obtain financial advice relevant to your circumstances before making any decisions. You should seek specialist advice from a tax professional to confirm the impact of this advice on your overall tax position. Information on this site is intended for Australian residents only and any access to this material via the internet is subject to the Terms and Conditions of Use of our website and our Privacy Policy. Please refer to our Financial Services Guide and Fee Schedule.

Nothing on this site represents an offer or solicitation by Australian Unity Trustees Ltd in relation to securities or investments in any jurisdiction. Where a particular financial product is mentioned, you should consider the Product Disclosure Statement before making any decisions in relation to the product and Australian Unity Trustees Ltd makes no guarantees regarding future performance or in relation to any particular outcome. Whilst every care has been taken in the preparation of this information, it may not remain current after the date on which it is published and Australian Unity Trustees Ltd and its related bodies corporate make no representation as to its accuracy or completeness.