When someone close to you dies and you have been named as the executor of their Will, it can be difficult to know where to begin. You may be dealing with grief while suddenly being responsible for property, bank accounts, debts, superannuation and other legal and financial matters.

The good news is that you do not have to work it all out yourself.

If you are an executor, there are some important steps to take early. Getting the right advice at the beginning can help you understand your responsibilities and avoid costly mistakes later.

1. Find the original Will

The first practical step is to locate the deceased person’s original Will.

The Will identifies the executor and sets out how the deceased wanted their estate distributed. If you cannot find an original Will, do not assume there was no Will. There may be ways to establish what document represents the deceased’s wishes.

If there is no valid Will, the estate is generally dealt with under NSW intestacy laws and an application for a grant of Letters of Administration (rather than for probate) may be required.

2. Secure the deceased’s assets

An executor is responsible for protecting the estate’s assets. This may include a home, vehicles, personal possessions, bank accounts, shares and other investments.

The family home may be one of the most significant estate assets. If the property is vacant, consider whether it needs to be secured, insured and maintained.

You should also be careful about removing, selling or distributing property before you understand your legal responsibilities. Acting too quickly can create problems for an executor, particularly where there are competing claims or uncertainty about the Will.

3. Identify the estate’s assets and debts

You will need to establish what the deceased owned and what they owed.

This can involve contacting banks, insurers, superannuation funds, investment providers and other organisations. You should also identify mortgages, loans, credit cards, rates, utility accounts, tax liabilities and other debts.

Keep careful records of your enquiries, correspondence, expenses and transactions. As executor, you are responsible for properly administering the estate and ultimately accounting for what happens to its assets.

4. Work out whether probate is required

If there is a Will, the executor may need to apply to the Supreme Court of NSW for a grant of probate.

Probate is the Court’s formal recognition of the executor’s authority to administer the estate. Once probate is granted, it can generally be provided to banks and other asset-holders so that estate assets can be collected and dealt with.

Not every estate requires probate. The circumstances can depend on the nature and value of the assets, how assets are owned and the requirements of individual asset-holders.

If there is no Will, or the named executor cannot or will not act, a different type of Court application may be necessary.

5. Don’t distribute the estate too soon

One of the most important things an executor should understand is that administering an estate is more than simply following the Will and handing assets to beneficiaries.

Before distribution, the executor needs to consider debts, tax, potential claims against the estate and the proper legal process for dealing with the estate’s assets. Distributing assets prematurely can potentially expose an executor to personal liability.

This is why obtaining legal advice early can be particularly valuable.

How Mid Mountains Legal can help

You do not have to administer a deceased estate alone.

Mid Mountains Legal’s deceased estates and probate services can assist executors and administrators with probate and Letters of Administration, estate administration, dealing with estate assets and debts, deceased estate property transactions and other legal issues that can arise during administration.

We also assist with more complicated matters, including Will interpretation and disputes, estate litigation and superannuation or death-benefit issues.

Based in Lawson, Mid Mountains Legal provides personal, practical legal support to executors throughout the Blue Mountains, from Glenbrook to Mount Victoria.

If you have been appointed executor of an estate and are unsure what to do next, getting advice early can give you confidence that you are taking the right steps and properly carrying out your responsibilities.

Contact us now for free no-obligation, confidential telephone advice about administration of a deceased estate.

This article provides general information only and is not a substitute for legal advice. Every deceased estate is different, and the steps required will depend on the circumstances of the estate.