It is a great honour to be appointed as executor for a friend or loved one. However, it is no small task!

You have lots of responsibilities, and many laws apply to you that you may not know about.  You could also be personally liable for some things.

The executor is the custodian of the estate, with obligations to both creditors, and beneficiaries, as well as towards the deceased person.  The executor must properly fulfil a legal process called ‘estate administration’.   If there are disputes, the executor’s job is to be unbiased and to represent the best interests of the estate, and the directions of the deceased person.

It is wise to consult with a Lawyer about the estate administration, even if there is no dispute.  Often the legal fees can be reimbursed by the estate.  

As executor, you could also be eligible to request ‘Executor’s Commission’ if you have faithfully and promptly discharged your duties at law.  By the end of a long estate administration you may well deserve it!

The amount of ‘Executor’s Commission’ that you can request varies according to many things including the level of your own ‘personal effort’, the value and the complexity of the estate, and lots of other issues.  Because the amount varies so much, it is best to obtain advice from your Lawyer before you approach the beneficiaries for their agreement about your commission.  It is also a good idea to keep good personal records throughout the process of estate administration.  While your personal records may not be actual proof of anything, they are a useful reminder of everything that you have done.