Who can act as an executor and what is the role of an executor?
Any adult person or any statutory trustee company such as Sandhurst Trustees Limited can act as an executor. However, experience shows that only executors with appropriate qualifications and expertise should be trusted with the administration of an estate. An executor is responsible for the entire administration of an estate. Principal duties of an executor • Meet with family members and named beneficiaries to discuss the provisions of the will. • Attend to funeral arrangements. • Identify assets and liabilities – Preparation of Statement of Assets and Liabilities for relevant beneficiaries. • Protect and maintain assets. • Advise banks, companies, insurance agencies, debtors, creditors and other applicable organisations of the death. • Identify beneficiaries named under the will and their entitlements. • Obtain a grant of Probate. • Realise assets to meet estate expenditure. • Settle liabilities and expenses due by the estate. • Collect all income and monies due to the estate. • Prepa
