Executor of Will Steps
If you have been appointed the “Executor” under a loved one’s Will, you may not know where to start when it comes to administering your loved one’s estate.
The role of the Executor is an important role. You may decide to engage a solicitor to assist you in the administration of the estate.
- The first step is to make enquiries as to the whereabouts of any Will (or codicil – an amendment to the Will) including carrying out a search of the deceased’s personal belongings. If, after a search of their personal belongings, a Will is not found, then you must make enquiries with their solicitor or accountant, to see if they hold a valid Will in their safe custody.
- The next step is to review the terms of the Will (or codicil) to determine if the deceased provided any statement of wishes in relation to whether they wanted to be buried or cremated and any other directions that they may have given in relation to their funeral arrangements. Part of your role as Executor is to arrange the funeral.
- You must notify the beneficiaries of the estate that your loved one has passed. A named beneficiary is also entitled to a copy of the deceased’s Will by law.
- You must collect information on the deceased’s assets and liabilities and protect the assets of the estate. For instance, you must ensure that any real estate, vehicle or equipment forming part of your loved one’s estate is insured for its full insurable value. You should also ensure that any direct debit arrangements are cancelled with your loved one’s bank(s), (other than with the insurers), and any subscriptions or memberships, health provider premiums and the like are cancelled.
These are just some of the preliminary steps that must be taken by the Executor. You’ll find that the team at Conditsis Lawyers is here to assist you with all your Wills and Estate Administration needs.