What is the role of the executor of a will in Queensland?
An executor has many duties, including:
- Gathering or taking control of estate property;
- Lodging tax returns and finalising tax affairs;
- Advertising for any debts owing, and paying those debts out;
- Finalising any financial or business affairs;
- Paying out legacies; and
- Distributing or transferring the estate property according to the will.
You must be very careful in your administration of the estate, because you can be held accountable for any losses.
It is therefore important for you to obtain legal advice to ensure that you have done your job as executor.View More News Articles