Things You Need To Keep In Mind Regarding Executor Of Will NSW
We are going to learn more about executor of will NSW in this article. Will is something you create before your death so that the assets will be properly distributed among all the beneficiaries. You need to have an executor of will from The Norton Law Group or other firms to get it executed post the death of the will creator. As the executor of will NSW your duty is to ensure that the will has been executed in a fair and proper manner. There can be opposition and disputes as far as an executor of will NSW is considered. In that case, you can make a move to remove the executor of will NSW. You can also contest the will.
There can be more than one executor of will NSW. You create the will so that there are no future disputes that affect relationships. You appoint an executor before you die while creating the will. Sometimes you don’t appoint an executor. You trust the executor to do the right thing in the future in your absence. As far as an executor is concerned, it could be a friend, relative or a family member. Or you can simply appoint a lawyer as the executor of the will. Executor is regarded as the representative in probate.
Significance of will
- Distribution of the estate can be a big issue post the death of the person. It can be really tough on the family members. If you have prepared your will, you will not find it a difficult task.
- When you create a will, it will eliminate the possibility of misunderstanding and disagreements with the family members. This will be easy on everyone.
- However, creating a will is not that easy as you would imagine. You will have to validate the will in the court. This will take couple of months.
- The executor will be given the duty of validating the will. As the executor you will go to the court for the same. A Grant of Probate is what you need to obtain here.
- What do you mean by probate? Well, it is the legal term for executing the law under the supervision of a court.
- As far as probate court is considered, we are referring to a special court here. Sometimes creditors make claims in the court and the court validates such claims.
- The court will be overseeing the entire process. Eventually, the estates and the assets will be transferred to various beneficiaries.
- As the executor you need to take an oath approved by the lawyer. This is to show your commitment in sharing the assets in the proper manner. You will be given the responsibility of ensuring the wishes of the deceased are met. You pick the executor as you write the will. In most cases, it can be a friend, family member or a trusted lawyer.
- As the executor it is your duty is to make sure that the wishes of the deceased are met with. If you should fail, then the beneficiaries can make a moveto replace the executor of will NSW.