A nominated person does not have to accept the appointment as executor. A nominated person can, before applying for a Grant of Probate, appoint the State Trustee to act in their stead, or simply sign a renunciation.
However, once a person has undertaken any aspect of the duties of executor, they have effectively accepted the role, and it is much harder to renounce. As such, if someone is ambivalent about acting as executor, he or she should avoid undertaking any of the duties of the executor until they have made a final decision about accepting the role.
Digital Assets
How to make sure your digital property ends up in the right hands. Make A List Of All Your Digital Assets And How To Access Each One What digital assets do you own? Make a list of your digital assets, including everything from hardware to social media accounts to...
Cryptocurrency
It’s important to address what you’re going to do with all your assets including cryptocurrency in your Will to avoid serious issues such as beneficiaries not being able to access what you’ve left them. The most important consideration when leaving Bitcoin or another...
Can I include a charity as a Beneficiary in a Will?
While loved ones should always be your first consideration, have you ever thought about the legacy that you could leave behind by including a charity as a beneficiary in your Will? Around 25% of Australians say they would like to include a charity but it’s often not...
What is a Guardian?
A guardian is an individual to whom a judge or a will gives the legal responsibility to care for a child or an adult who does not have the capacity for self-care. The appointed individual is often responsible for both the care of the ward (the child or incapable...
What if no executor is named in the Will?
If Will-maker failed to appoint an executor, usually the court needs to appoint someone to administer the estate. A person appointed by the court is called an administrator (of a Will). Often this is the beneficiary with the largest portion of the estate. An...
Why are Wills important?
Just like going to the dentist or doing taxes, many of us put off writing our Will because it’s something we don’t really want to think about. But if you aren’t specific in how you would like your estate to be distributed after you die, if something were to happen to...