What to Expect When You Are… the Executor of an Estate in Queensland

Being appointed as the executor of an estate is an important responsibility. The role requires you to ensure that the deceased’s wishes are fulfilled and that the estate is administered in accordance with the law. If you’ve been named as an executor in Queensland, it’s essential to understand what this entails and what to expect as you navigate the estate administration process. This article provides an overview of the steps involved, key responsibilities, and potential challenges you may face as the executor of an estate in Queensland.

 

1. Initial Responsibilities as Executor

When you are named as the executor of an estate, the first task is to confirm that you are willing and able to take on this responsibility. As an executor, you are legally bound to carry out your duties, which include:

• Locating the Will: The first step is to find the deceased’s most recent Will. It may be stored with a solicitor, in a safe deposit box, or among the deceased’s personal belongings. If the original Will cannot be found, you may need to apply to the court to obtain a Probate on a  copy of the Will.
• Notifying Relevant Parties: Once the will is located, you must notify relevant parties, including beneficiaries, financial institutions, and government bodies, about the deceased’s death. You may also need to arrange funeral services.

See also: Five Considerations when Selecting an Executor to Your Will/ Estate

 

2. Applying for Probate

In Queensland, the executor may be required to apply for a Grant of Probate. Probate is the legal process through which the Supreme Court of Queensland officially recognizes the validity of the will. This step is necessary before you can access the deceased’s assets and begin the distribution process.

To apply for probate, you must submit the following to the court:

• The original will
• A death certificate
• A probate application form, which includes information about the deceased, the executor, and the estate
• An affidavit outlining your eligibility and relationship to the deceased
• An affidavit that you have advertised your intention to apply for probate

Once the court grants probate, you will have the legal authority to administer the estate.

See also: Why do I need a Grant of Probate? – Wills & Estate Law

 

3. Administering the Estate

After probate is granted, you will begin the process of administering the estate. This involves managing the deceased’s assets, paying any outstanding debts, and distributing the remaining estate according to the instructions in the will. Some of the key tasks include:

• Identifying and Collecting Assets: The estate may include real estate, bank accounts, shares, personal belongings, and more. You must locate and inventory these assets, ensuring that they are properly valued and protected.
• Paying Debts and Expenses: Before distributing assets, you must pay any outstanding debts of the estate. These could include funeral costs, taxes, bills, and other liabilities. Executors are required to ensure that all debts are settled before beneficiaries can receive their inheritance.
• Tax Obligations: You will need to file the deceased’s final tax return and may also need to handle capital gains tax (CGT) if assets are sold or transferred. Executors are responsible for managing these obligations, often with the help of a tax professional or accountant.

 

4. Distributing the Estate

Once all debts and expenses have been settled, the next step is distributing the estate to the beneficiaries. The distribution process can be straightforward if the will is clear and there are no disputes. However, there are a few things to keep in mind:

• Follow the Will: You must ensure that the estate is divided according to the instructions laid out in the will. If the will is unclear or there are ambiguities, you may need legal advice to resolve any issues.
• Handling Disputes: Disputes between beneficiaries or third parties can arise, particularly if someone believes they have been unfairly excluded from the will or if the will is contested. In such cases, you may need legal assistance to resolve these conflicts.
• Finalising the Estate: After all assets have been distributed, and any final obligations are settled, you can formally close the estate. As the executor, you will need to provide the beneficiaries with a final accounting of the estate, including a breakdown of assets, debts, and distributions.

 

5. Time Frame for Administering the Estate

The time it takes to complete the administration of an estate varies. On average, it can take anywhere from six months to over a year, depending on the complexity of the estate and whether there are any disputes. Factors that can affect the timeline include:

• The number of assets and their complexity (e.g., real estate, business interests)
• The need for valuations or professional advice
• Whether any family provision claims or disputes arise

As an executor, it’s important to be patient and communicate regularly with the beneficiaries to keep them informed of the progress.

See also: Legal Actions Against Executor Delaying Estate Administration

 

6. Challenges You Might Face as an Executor

While being an executor is an important duty, it can also come with challenges. Some of the common difficulties you may face include:

• Family Disputes: Disagreements among beneficiaries or family members can complicate the administration process. Some individuals may challenge the will, claim they have not been adequately provided for, or question your actions as the executor.
• Emotional Strain: Administering an estate can be an emotionally challenging task, particularly if the deceased was a close family member or friend. Balancing your responsibilities with personal emotions can be difficult, and it may take time to process the loss.
• Complexity of the Estate: If the estate includes complex assets such as a business, shares, or international property, you may need to seek expert advice to ensure everything is handled correctly.
• Delays in the Probate Process: Probate applications can sometimes be delayed, especially if there are any issues with the will or the deceased’s assets. This may delay your ability to access estate funds and carry out your duties.

See also: Navigating Executor Misconduct and Estate Disputes: Your Legal Rights in Queensland

And How to Handle Difficult & Misbehaving Beneficiaries in Queensland Estate Administration

 

7. What Happens if You Can’t Fulfill Your Role as Executor?

If, for any reason, you feel unable to carry out the role of executor, you can decline the responsibility. This must be done formally by renouncing your appointment as executor in writing. If you have already started the process but wish to step down, you must apply to the court to have your appointment revoked. In such cases, the court will appoint a substitute executor, which could be another family member, a professional executor, or a solicitor.

 

What to do Now

Serving as an executor in Queensland is a significant responsibility that involves managing the deceased’s estate, paying debts, handling taxes, and ensuring that assets are distributed as per the will. While it can be a complex and time-consuming task, understanding your responsibilities and seeking professional advice can help you navigate the process effectively. Being an executor also requires patience, organization, and impartiality. By following the proper legal steps and communicating clearly with beneficiaries, you can honour the deceased’s wishes and fulfill your role successfully.

 

At Bennett Carroll Solicitors, we are experts in estate administration, and beneficiary rights across South East Queensland. Visit one of our convenient locations in Brisbane, the Gold Coast, Sunshine Coast or Ipswich, and let our experienced lawyers assist you. For tailored advice, contact us today.

 

See Also:
The Executor is Taking Too Long: What to Do – How to Handle Executor Delays in Estate Administration
Wills & Estates with Bennett Carroll 
Being an executor of an estate- QLD Government 
QLD Public Trustee - Deceased estate administration