Acting as an executor is a significant undertaking that requires substantial time and effort - taking up to 400 hours and 18 months to perform all the legal and financial actions required to finalise an estate.
By carefully choosing an executor who is trustworthy and capable, you can have peace of mind knowing your estate will be managed correctly and your loved ones’ best interests will be safeguarded. An independent executor also ensures impartiality, which can be particularly beneficial in complex family situations.
The Safewill Executor is a trained, independent professional familiar with the legal, tax and financial requirements of estate administration. They will execute your Will efficiently and quickly, removing this stress from your loved ones and making sure they get paid out as quickly as possible. This also helps minimize potential conflicts among family members during the estate administration process.
The Safewill Executor team will handle the entire process of estate administration and limit the burden on your loved ones. This will include:
Working with Safewill Legal to obtain a grant of probate for your estate
Contacting all financial institutions, government agencies, and utility & service providers to get a clear inventory of your assets and liabilities
Opening an estate account and managing your assets until they are distributed to your beneficiaries
Settling all debts and liabilities, and making sure your estate complies with accounting and taxation requirements
Finalising distribution of your estate to beneficiaries, and closing down the estate accounts.
How will my family or beneficiaries know to contact the Safewill Executor? You can notify your family and/or beneficiaries that you have created a Will with Safewill.
Is it mandatory to appoint Safewill as executor? No, you can appoint any trusted individual who meets legal requirements, such as being over 18 and not an undischarged bankrupt. Appointing Safewill is entirely optional.
What happens if Safewill is unable to act as executor? If Safewill is unable to act as executor, your Will remains valid. Safewill requires you to nominate a backup executor who will step in to administer your estate, ensuring that your beneficiaries are not disadvantaged.