Have you been appointed an Executor of a Will?

You may not know that you have been appointed as an Executor until many years after the Will has been made and possibly not until the death of the will maker. This is because there is no legal obligation for a will maker to notify an Executor of their appointment. Many Executors only find out when provided with a copy of the will naming them as Executor.

What do Executors do?

When a person makes a Will, they nominate a person(s) to act as their Executor to administer their estate upon their death. An Executor is responsible for making arrangements such as locating the Will and notifying the beneficiaries in the will; looking after the assets of the estate to ensure they are safe and insured, liaise with banks, financial institutions, insurance companies, creditors, apply to the Court for a Grant of Probate, complete income tax returns, pay all debts, divide the estate and create trusts where required.

Being an executor can be challenging and time consuming and serious consideration should be given before entrusting these takes to family members and/or friends.

What if you don’t want to be an Executor?

Your appointment as an Executor is not compulsory. Often people that have been appointed as an Executor are unwell, unable or simply unwilling to undertake the executor role they were appointed to perform. If you don’t want to act as the Executor, you can give up your rights to be the Executor. This is referred to as ‘renouncing’ your appointment as Executor.

If you have not intermeddled with the Estate you can give up your rights under the Will to apply for Probate by renouncing your appointment. Intermeddling might include making arrangements for the estate such as notifying financial institutions, notifying beneficiaries, liaising with asset holders, ie basically undertake executor type duties.

Where an Executor has not intermeddled with an Estate, the Renunciation process is relatively quick and involves completing the proscribed Renunciation of Probate form together with an Affidavit supporting the said renunciation and lodging those documents with the Supreme Court of Victoria. Once the renunciation of Probate is filed with the Court, you will be removed as Executor of the estate.

If you decide to Renounce your appointment as Executor, you need to act quickly to file the Renunciation to ensure that you don’t take any steps that could be seen as accepting the appointment of Executor.

The Court is concerned to protect the interests of the beneficiaries and creditors of the estate which is why if there has been intermeddling with the estate, you may not be able to simply refuse to act as Executor and cannot simply renounce Probate. Generally, once a person has accepted the office of Executor (as evidenced by intermeddling), the Executor cannot refuse to continue, however if a situation arises where an Executor is unable to continue then an Application needs to be made to the Supreme Court of Victoria setting out the reasons why the Executor cannot continue and any impact this has on the interests of the beneficiaries and creditors of the estate.

If you would like more information on this topic, please speak to a member of our Wills, Estate and Probate team.

Disclaimer
The material contained in this publication is meant to be informational only and is not to be construed as legal advice. Tisher Liner FC Law will not be held liable or responsible for any claim, which is made as a result of any person relying upon the information contained in this publication.

Related Articles

View All
Wills, Estates & Probate

Sporting Injuries, Head trauma and planning for the worst.

Gone are the days where someone was told to ‘get on with it’, if they suffered a knock to the head during...
Read More
Wills, Estates & Probate

DEATH AND TAXES – Do you have to lodge a tax return for a deceased estate?

Assets can include shareholdings, unpaid present entitlements from trusts, real property (including rental income) and...
Read More
Litigation & Dispute Resolution / Wills, Estates & Probate / Health & Aged Care

Do I need Probate? What is it?

When someone passes away, Probate is obtained by the executor of the deceased’s Will (or administrator if someone...
Read More
Wills, Estates & Probate

Planning to get away for the December / January break?

It’s a busy time and lots of people are travelling domestically and internationally  Sadly, it’s also a time when...
Read More
Wills, Estates & Probate

Why do you need a Grant of Probate or Letters of Administration?

First off, what’s the difference between Probate and LOA Probate is where a person, named as an executor in a Will,...
Read More
Wills, Estates & Probate / Family Law / Family Law Advice

The effect of Divorce on a Will

Separating or getting a divorce  Time to make a new Will! There are some couples who, whilst separated, are still...
Read More
Wills, Estates & Probate

Succession Planning – Doesn’t begin with just making a Will.

Scenario 1: ‘Robert’ is 45 and a director of his own property investment and management company in Melbourne  He...
Read More
Wills, Estates & Probate

Why Wills + Estate Planning Is Never Simple

Whether you’ve made your own will, used a post office will kit or had it made by a Lawyer, preparing a Will and...
Read More
Wills, Estates & Probate

Have you been left out of a Will? Curious where you stand?

The Administration and Probate Act 1958 (the Act) in simple terms places an obligation on the willmaker to make...
Read More
Wills, Estates & Probate

Probate & Covid-19

  RedCrest Probate The Probate Office had intended to launch its online platform in April 2020, however due to...
Read More
Wills, Estates & Probate / Health & Aged Care

Advanced Care Planning

You’ve got your toilet paper, sanitiser and household essentials organized, BUT!! Beyond toilet paper, hand sanitiser...
Read More