Executor

The Executor is vital to ensure all the final wishes come true. He/She oversees and is responsible for the administration of the entire estate of the Testator until the distribution of the assets is completed. The Executor can be anyone whom the Testator decides on, including a spouse, a member of the family or a close friend. As your entire estate will be vested with your Executor to enable distribution, the chosen person must be honest, capable and a high level of integrity as the duties carried are tedious & time-consuming.

Depending on the size and value of your estate, and the age of your beneficiaries, the role can lasts over an extended period of time. Under the Probate And Administration Act 1959, a Testator can appoint upto 4 Executors to act jointly. When choosing the Executors, consider important factors such as assets management skills and professionalism, as a large assets and businesses may require the Executor to direct, invest or continue these operations to enhance your estate. They will also need time to understand and to garner the expertise to obtain the legal rights to execute the Will so that that neither unnecessary costs not further grief is incurred or caused.

The expertise and legal understanding involves obtaining a Grant of Probate from the High Court by submitting various documents. The Executor has to confirm and settle all the liabilities and debts by writing to Financial Institutions, Government Departments and search for records so that the remainder of your estate can be distributed to the beneficiaries. Upon completion of this, the Executor will prepare a proper set of accounts for the approval of the beneficiaries before subsequently distributing the estate according to the terms of the Will.