Being the executor of a will puts you in a unique position. On the one hand, it is certainly an honour to be able to carry out the final wishes of a dearly departed family member or friend. On the other, there is a great deal of responsibility involved in this endeavour. It is quite unlikely that you have really prepared for this occasion and so may be a little overwhelmed about what you need to do. Here is a guide to take away some of the pressure and to help you focus on your duties.

Get the Necessary Help

One of the first questions that you may ask yourself once you learn of your role is, “do I really need a lawyer?” Well, this is entirely up to you. However, you may find that in certain instances, you are better off with probate lawyers Melbourne. This will be particularly helpful if you are unsure of what you are supposed to do as an executor. Also, if the deceased’s estate is quite substantial or if it appears as though the will may be contested, you are going to need some legal help. Having the proper solicitors by your side is going to make the whole process a lot easier.

Compile a Record of Funds and Expenses

Just because someone has passed away does not mean that they don’t have certain expenses. These may be as simple as paying the remnants of a credit card bill or disconnecting a phone. Nonetheless, they need to be taken care, especially if there is a danger of the amount accumulating. Similarly, the deceased individual may be owed money in the form of paycheques or other funds. To make it easier to sort through this, you can set up a temporary account that will help you deal with all of this money.

Make a List of Due Dates

There may be certain deadlines that you will be expected to meet regarding the deceased’s estate. This could include paperwork, payments, or the need to file certain documents. To avoid missing any of these due dates, it is important to set up a calendar for yourself. Clearly mark all of the events along with when they are due. You should also mention when you need to start the proceedings for these occasions as well.

Create an Inventory and Inform Beneficiaries

Even though there may be a will, you are still going to need to make an inventory of the estate. You will also need to make a list of all of the assets owned by the individuals. Keep in mind that some of these assets may lie either outside of your state or even the country. You should speak with your lawyers to decide what the next course of action should be, in this case. Once you are certain that you have tracked down all of the assets, it is time to inform the beneficiaries. It is important that you only provide them with the information that is relevant to their stake of the estate.

There is a lot that you are going to need to do as an executor. Being prepared will help to take some of the confusion and hassle out of the proceedings. Follow these tips and you will be better equipped to carrying out your duties.