When you make a will, one of the most important decisions you’ll face is who to appoint as your executor. Your executor is the person who steps in after your death to manage your estate and carry out your wishes. It’s a role that carries both legal responsibilities and personal sensitivity, so it’s worth taking time to make the right choice.
At Phillips & Wilkins, we’ve been guiding families in Thornbury, Northcote and across Melbourne for decades. Here’s what you need to know about the role of an executor, the qualities to look for, and when you might consider professional support.
What are the duties of an executor of a will in Victoria?
An executor is the person (or people) you appoint in your will to take control of your estate after you pass away. Their job is to make sure your assets are collected, your debts and taxes are paid, and the remainder of your estate is distributed according to your instructions.
The duties of an executor of a will in Victoria can include:
- Organising and paying funeral expenses
- Applying for probate (the court’s formal recognition of the will)
- Closing bank, superannuation and insurance accounts
- Managing or selling property
- Paying debts and taxes owed by the estate
- Distributing assets to the beneficiaries you’ve named in your will
It can be a demanding role. Some estates are finalised quickly, while others take months or even years to administer.
For more on what happens after probate, see our article on the six-month rule for deceased estates.
Who should be your executor?
Most people appoint a spouse, partner or adult child as their executor. Others choose a trusted friend, lawyer or professional trustee. You can name up to four executors, but they must act jointly, so it’s important to consider how well they will work together.
Qualities to look for in an executor include:
- Trustworthy and reliable
- Good with money and paperwork
- Has the time to manage the role
- Fair-minded, able to consult with family and avoid taking sides
- Willing to seek professional advice when needed
- Likely to outlive the main beneficiaries
It’s always best to talk to the person before naming them as your executor. They should understand the responsibilities involved and feel comfortable taking them on.
Things to know before deciding
In Victoria, executors can claim up to 5% of the estate’s value as commission. In practice, most family members who are also beneficiaries don’t receive a commission, as their inheritance is considered sufficient compensation.
Professional executors, such as lawyers, accountants, or trustee companies, may charge a fee – typically around 1–2% of the estate’s value. Any claim for commission needs to be disclosed to all beneficiaries, who have the right to agree or object.
Joint executors of a will in Victoria
If you appoint more than one executor, remember they must make decisions together. This can work well if the executors are cooperative, but it can also create delays if there are disagreements.
Guardianship of children
If you have young children, choosing an executor often goes hand in hand with appointing a guardian. Your executor manages the financial side of your estate, while your guardian takes on the care of your children. It’s important to think about how these roles will work together. This is particularly important for blended families.
When to consider a professional executor
While many families choose a trusted relative or friend, there are times when a professional may be the better option:
- If family dynamics are complex or likely to lead to disputes
- If the estate includes businesses, trusts, or multiple properties
- If you don’t have a family member or friend who is willing or able to take on the role
Professional executors, including firms like State Trustees, can provide independence and expertise, though they will usually charge fees.
Practical help with wills and estate planning
Choosing the right executor can make a world of difference to your loved ones. A capable, fair, and willing executor will help ensure your wishes are respected and your family is supported through what can be a difficult time.
At Phillips & Wilkins, we’ve been helping local families prepare wills and manage estates for generations.
If you’d like clear, practical advice about wills, executors, or estate planning, get in touch to arrange an appointment.
