No such thing as a free lunch…or a free Will.

As our population ages, we are seeing more cases of beneficiaries being “surprised” that they have not been appointed as Executor of their parent’s Will/s.

did you know?

1. You can appoint anyone as your Executor. They do not need to be a lawyer or qualified professional.  In many cases, it makes sense that this might be your spouse or a close family member, and they will usually administer your estate for free.
2. Companies/businesses/government departments offering a “Free Will” or cheaper will preparation service will often suggest to the person making the Will that they appoint them as Executor. And they then charge fees to administer the Estate.  For a simple Estate where there are little assets, this can be an unnecessary expense for the Estate (and cause delays in beneficiaries receiving their inheritance).
3. Often the person making the Will doesn’t understand the ramifications, and their family end up being caught out with expenses and undue delay.
4. If your parents or someone you know have one of these “free wills”, it is worth asking the question of who has been appointed as Executor before it is too late to make the change.
5. An Executor can only be removed if they renounce or by way of a court order, which is very difficult to obtain.

For more information, contact our Wills and Estates team.

This article was written by Nicole Treacey, Senior Associate – Private Clients. 

The information contained in this article is general in nature and cannot be relied on as legal advice nor does it create an engagement. Please contact one of our lawyers listed above for advice about your specific situation.