The executor you pick today will either help your family or create big problems for them tomorrow. When you pass away, this person takes care of your entire estate. They collect your money and property, pay your bills, and give everything to the right people.
Unfortunately, many people don't know how hard this job really is. When executors don't have the right skills, everything takes much longer, and your family gets frustrated. In fact, some families wait years just because they picked the wrong person for this important job.
We, Securator Legal, have a clear idea about what makes a good executor different from a bad one. Today, we'll show you exactly what to look for and what mistakes to avoid. Keep reading to learn how wise choices today save your family from years of headaches.
What Your Executor Will Handle After You're Gone
Now that you've got a basic idea about why choosing the right executor is so important. Let's dive into what they actually have to deal with after you're gone. Honestly, most people don't realise just how much is involved in handling a deceased estate.
The executor you pick today will either help your family or create big problems for them tomorrow. When you pass away, this person takes care of your entire estate. They collect your money and property, pay your bills, and give everything to the right people.
Unfortunately, many people don't know how hard this job really is. When executors don't have the right skills, everything takes much longer, and your family gets frustrated. In fact, some families wait years just because they picked the wrong person for this important job.
We, Securator Legal, have a clear idea about what makes a good executor different from a bad one. Today, we'll show you exactly what to look for and what mistakes to avoid. Keep reading to learn how wise choices today save your family from years of headaches.
What Your Executor Will Handle After You're Gone
Now that you've got a basic idea about why choosing the right executor is so important. Let's dive into what they actually have to deal with after you're gone. Honestly, most people don't realise just how much is involved in handling a deceased estate.
Managing Your Deceased Estate Assets
Your executor’s number one responsibility will be handling your finances. They’ll be responsible for every bank account, super fund, investment, and piece of property you own. Once they find everything, it’ll all need proper valuation before probate can even get started.
Handling Personal Property and Motor Vehicles
But wait, there's more work ahead. They're also stuck dealing with all your physical stuff:
- Going through household contents and furniture
- Sorting out motor vehicles and registration transfers
- Securing jewellery and collectibles
- Managing digital accounts and passwords
We've seen families spend months sorting through boxes of personal belongings, and it's absolutely exhausting.
Working with Support Services and Legal Requirements
The paperwork alone is enough to drive anyone mad. Then comes the real administrative nightmare. Getting death certificates is just the beginning, since they also handle tax returns, insurance claims, and keeping beneficiaries in the loop.
That's exactly why many people start thinking about getting professional help.
Professional Executor vs Family Member: Which Works Better?
After seeing all that work involved, you're probably wondering who can really handle it all. So the big question becomes: should you pick a professional executor or a family member for your estate planning process?
Well, family members know your wishes but might lack experience with financial and legal decisions. On the other hand, professional executors from trustee companies bring expertise but cost more money. Meanwhile, the public trustee offers a middle ground with government backing and reasonable fees.
Here's how each option stacks up:
- Family members work for free but may struggle with complex estate plans
- Professional executors handle everything smoothly but charge substantial fees
- Public trustees balance cost and competence for most situations
The reality is that most estates benefit from professional guidance. We've seen countless families struggle when they try to handle everything themselves, especially during grief. So why not rely on a professional who knows exactly what needs doing?
Pro tip: Consider your estate's complexity before choosing emotional connection over professional skill.
Warning Signs Your Chosen Executor Isn't Right
Sometimes the person you picked years ago isn't the right fit anymore. People change over time, and what seemed like a good choice back then might be a disaster waiting to happen. So it's worth checking for these warning signs:
- Are they showing signs of diminished mental capacity?
- Can they handle their own financial matters properly?
- Do they avoid talking about your will completely?
These questions help you spot problems before they become disasters for your family. Any worrying answers mean it's time to seriously think about other options.
Also, watch out when your executor seems overwhelmed by simple tasks or keeps putting off these conversations. When situations change and someone else would do better, don't hesitate to make the switch.
Complex Estates That Need Special Attention
Complex estates are those with unusual assets or legal structures that go beyond simple money and property. Think of someone who owns a business, has trusts set up, or holds assets in different countries. These estate plans need special care because one mistake can cost your family thousands or cause major delays.
When your situation gets complicated, regular executors often struggle. Here's what makes things tricky:
- Testamentary trusts require deep legal knowledge that most people don't have
- Business assets held across multiple companies need specialist handling
- Interstate properties create mountains of paperwork and different rules
- Enduring power arrangements must work alongside estate administration
We've watched families lose months trying to figure these things out on their own. The stress alone isn't worth it when professional help is available. So, how do you make this important decision?
Making Your Final Decision: A Practical Approach
Making this decision becomes easier when you break it down into simple steps. First, take a good look at your estate and be honest about how complicated it is. Simple estates with money and property are different from complex ones with businesses or trusts.
Next, have real conversations with the people you're considering as executors. Don't assume they'll say yes or that they understand what's involved.
And lastly, we’ll leave you with this final piece of advice: remember that your current will can be changed as circumstances evolve. Your executor choice isn't set in stone forever. When you need help making these decisions, experienced professionals like us at Securator Legal are here to guide you through the process.
Managing Your Deceased Estate Assets
Your executor’s number one responsibility will be handling your finances. They’ll be responsible for every bank account, super fund, investment, and piece of property you own. Once they find everything, it’ll all need proper valuation before probate can even get started.
Handling Personal Property and Motor Vehicles
But wait, there's more work ahead. They're also stuck dealing with all your physical stuff:
- Going through household contents and furniture
- Sorting out motor vehicles and registration transfers
- Securing jewellery and collectibles
- Managing digital accounts and passwords
We've seen families spend months sorting through boxes of personal belongings, and it's absolutely exhausting.
Working with Support Services and Legal Requirements
The paperwork alone is enough to drive anyone mad. Then comes the real administrative nightmare. Getting death certificates is just the beginning, since they also handle tax returns, insurance claims, and keeping beneficiaries in the loop.
That's exactly why many people start thinking about getting professional help.
Professional Executor vs Family Member: Which Works Better?
After seeing all that work involved, you're probably wondering who can really handle it all. So the big question becomes: should you pick a professional executor or a family member for your estate planning process?
Well, family members know your wishes but might lack experience with financial and legal decisions. On the other hand, professional executors from trustee companies bring expertise but cost more money. Meanwhile, the public trustee offers a middle ground with government backing and reasonable fees.
Here's how each option stacks up:
- Family members work for free but may struggle with complex estate plans
- Professional executors handle everything smoothly but charge substantial fees
- Public trustees balance cost and competence for most situations
The reality is that most estates benefit from professional guidance. We've seen countless families struggle when they try to handle everything themselves, especially during grief. So why not rely on a professional who knows exactly what needs doing?
Pro tip: Consider your estate's complexity before choosing emotional connection over professional skill.
Warning Signs Your Chosen Executor Isn't Right
Sometimes the person you picked years ago isn't the right fit anymore. People change over time, and what seemed like a good choice back then might be a disaster waiting to happen. So it's worth checking for these warning signs:
- Are they showing signs of diminished mental capacity?
- Can they handle their own financial matters properly?
- Do they avoid talking about your will completely?
These questions help you spot problems before they become disasters for your family. Any worrying answers mean it's time to seriously think about other options.
Also, watch out when your executor seems overwhelmed by simple tasks or keeps putting off these conversations. When situations change and someone else would do better, don't hesitate to make the switch.
Complex Estates That Need Special Attention
Complex estates are those with unusual assets or legal structures that go beyond simple money and property. Think of someone who owns a business, has trusts set up, or holds assets in different countries. These estate plans need special care because one mistake can cost your family thousands or cause major delays.
When your situation gets complicated, regular executors often struggle. Here's what makes things tricky:
- Testamentary trusts require deep legal knowledge that most people don't have
- Business assets held across multiple companies need specialist handling
- Interstate properties create mountains of paperwork and different rules
- Enduring power arrangements must work alongside estate administration
We've watched families lose months trying to figure these things out on their own. The stress alone isn't worth it when professional help is available. So, how do you make this important decision?
Making Your Final Decision: A Practical Approach
Making this decision becomes easier when you break it down into simple steps. First, take a good look at your estate and be honest about how complicated it is. Simple estates with money and property are different from complex ones with businesses or trusts.
Next, have real conversations with the people you're considering as executors. Don't assume they'll say yes or that they understand what's involved.
And lastly, we’ll leave you with this final piece of advice: remember that your current will can be changed as circumstances evolve. Your executor choice isn't set in stone forever. When you need help making these decisions, experienced professionals like us at Securator Legal are here to guide you through the process.