Being named as the executor of someone’s Will is a sign of great trust. It can also feel overwhelming, especially while you are grieving. The good news is that you do not have to do everything at once. Here are the key first steps for executors in Victoria.
1. Find the original Will
Look through the person’s papers at home and check whether a solicitor holds the Will in safe custody – many people leave their original Will with the firm that prepared it. The original Will is usually needed to apply for probate, so keep it safe and do not remove staples or attach anything to it.
2. Arrange the funeral and obtain the death certificate
The funeral director will usually register the death with Births, Deaths and Marriages Victoria. You will need certified copies of the death certificate for banks, superannuation funds and other organisations. Reasonable funeral expenses are generally paid from the estate.
3. Secure the assets
Make sure the home is locked and insured (tell the insurer if it will be vacant), arrange mail redirection, and keep vehicles, valuables and important documents safe.
4. Make a list of assets and debts
Gather details of bank accounts, property, shares, superannuation, insurance policies and any debts. Keep in mind that some assets may not pass under the Will – for example, property owned as joint tenants usually passes directly to the surviving owner, and superannuation is paid by the fund trustee, often according to a nomination.
5. Work out whether probate is needed
Many estates need a grant of probate from the Supreme Court of Victoria before banks and other institutions will release assets or a property can be sold. In Victoria, a notice of intention to apply for probate must be advertised on the Supreme Court’s website before the application is filed.
6. Don’t distribute the estate too soon
Executors must pay the estate’s debts and lodge any final tax returns before distributing to beneficiaries. In Victoria, certain people can make a claim against an estate (a family provision claim), generally within six months of the grant of probate. Distributing too early can leave an executor personally exposed.
How we can help
Our team regularly guides executors through every stage of estate administration – from finding the Will to final distribution – with clear, practical advice. If you have been named as an executor, get in touch or call us on (03) 9562 0811.
This article is general information only and is not legal advice. Every situation is different – please contact us for advice about your circumstances.