The death of a loved one or friend is something few of us want to contemplate, but if you’ve been named as executor in their Will, you are legally responsible for administering their estate.
While this may sound straightforward, winding up someone’s estate – even a spouse or parent – is anything but a simple task.
Dealing with all the paperwork and various organisations you need to contact (such as their bank, super fund/SMSF, insurance company and telco) can be confusing and difficult.
Even if you’re retired and have free time on your hands, it’s worth thinking carefully about the time and effort that will be involved before agreeing to being appointed as executor.
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