Is it an honour to be named an executor… or is it a burden with significant risk?
By Emma Sakellaris, General Manager – Australian Unity Trustees
An executor is appointed within your will and is responsible for managing your estate and distributing assets according to your wishes.
The duties of an executor can be significantly time consuming, exceptionally complex and emotionally draining.
An executor is also legally responsible for fulfilling their duties and can be held personally liable for any financial losses incurred – this may result from actions of the executor, or lack of action by the executor, even if actions were undertaken in good faith.
Regardless of the nature of the will, administering an estate is rarely straightforward or easy, and is usually not a paid role for the individual appointed.
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