When a person makes a Will, they need to appoint someone to administer the estate. This person is known as the Executor and their role is to carry out the directions contained in the Will once the person who made the Will has passed away.
Many people see it as a compliment to appoint a relative or close friend as the Executor of their Will. However, being an Executor can be a complex and demanding role. The reality is that often people nominated as Executor are unsure of what is expected of them and can find the role is a burden.
As an Executor, it is important to understand the legal, financial and taxation implications of any actions you may take. It is particularly important to maintain independence if there is the added complication of disputes.
Finalising a person’s affairs while grieving can also be daunting and emotionally challenging. It can take months or possibly years if the estate is complex or involves disputes, ongoing trusts or life interests.
You can appoint NSW Trustee & Guardian to act as your independent Executor. NSW Trustee & Guardian has been administering estates for nearly 100 years and are experts in estate management. The benefit of appointing NSW Trustee & Guardian as Executor is that you are entrusting responsibility to a party who hold specialist knowledge and skills required for the role.
During Seniors Week in February, specialist staff from NSW Trustee & Guardian will be on hand at various local events to provide free information on Will-making and executor services.
Find us in Byron Bay on February 19, Grafton February 20 and Tweed Heads on February 21. For more details, contact our Lismore branch on 1300 721 872 or visit www.tag.nsw.gov.au