An executor is the person you nominate to carry out the instructions in your Will after you pass.
They will be tasked with obtaining probate, distributing your estate as per your instructions, taking care of your assets, and managing any conflicts or other responsibilities that arise.
With Safewill, you can appoint up to two co-executors who work together to administer your estate. You can also appoint two back-up executors in case your primary executors are unable or unwilling to fulfil the role.
The role of an executor can be time-consuming and may take several months to complete, depending on the complexity of the estate.
Key responsibilities include ensuring the estate is distributed as per the will’s instructions, safeguarding the original signed will, and actively managing the estate distribution process.
Additional responsibilities include paying off any debts and liabilities of the estate, and managing any trusts established for underage beneficiaries.
To qualify as an executor, the individual must:
Be over 18 years old.
Be a resident of Australia.
Have the legal, physical, and mental capacity to perform the role.
This is an important decision, as executing an estate can be a challenging and complex role that directly impacts the administration of your estate.
Safewill does not automatically appoint itself as an executor; you are required to choose your executor during the will creation process.
If you wish to change the executor later, follow these steps:
Log in to your Safewill account.
Edit your will to update the executor selection.
Resubmit the updated will for approval.