When an individual dies, it will be necessary for someone to deal with the administration of that individual’s estate (ie. liquidate assets, pay debts, finalize taxes and distribute to beneficiaries).
Why Appoint an Executor?
An executor (referred to as an Estate Trustee with a Will) is a specific person named in your Will that is entrusted with the legal authority to act on behalf of your estate, immediately upon your death. If you die without a Will, or no (surviving) executor is named in your Will, then someone will have to apply to the Court to be appointed as an administrator (referred to as an Estate Trustee without a Will). Until such power is granted, this individual has no authority to act on behalf of the estate. It may also be necessary for an administration bond to be posted leading to further cost and delay to the estate.
Estate Administration Services
There are a number of duties that the Estate Trustee must perform and the complexity of the estate administration will vary based on the nature of the assets and the circumstances of the individual beneficiaries (i.e. minor or disabled beneficiaries). Quinn Estate Law is experienced in providing estate administration services directly to clients. We can also provide general or specific estate administration advisory services to estate trustees and beneficiaries. We can help with all aspects of Estate Administration. The extent of our involvement will depend on your comfort level with completing your duties as estate trustee (executor of a will / administrator of an estate). It may be that you simply require assistance with obtaining the Certificate of Appointment of Estate Trustee or may retain us to take over most of the estate administration functions. Remember no one can be forced to act as an executor. If you have been appointed and you do not wish to take on this role, then you can renounce but this must be done before you deal with any aspects of the estate).