What is the Safewill Executor?

Acting as an executor is a significant undertaking that requires substantial time and effort - taking up to 400 hours and 18 months to perform all the legal and financial actions required to finalise an estate.

By carefully choosing an executor who is trustworthy and capable, you can have peace of mind knowing your estate will be managed correctly and your loved ones’ best interests will be safeguarded.

The Safewill Executor is a trained, independent professional familiar with the legal, tax and financial requirements of estate administration. They will execute your Will efficiently and quickly, removing this stress from your loved ones and making sure they get paid out as quickly as possible.
The Safewill Executor team will handle the entire process of estate administration and limit the burden on your loved ones. This will include:

• Working with Safewill Legal to obtain a grant of probate for your estate
• Contacting all financial institutions, government agencies, and utility & service providers to get a clear inventory of your assets and liabilities
• Opening an estate account and managing your assets until they are distributed to your beneficiaries
• Settling all debts and liabilities, and making sure your estate complies with accounting and taxation requirements
• Finalising distribution of your estate to beneficiaries, and closing down the estate accounts.

 

What are the Safewill Executor fees?

The fees paid by your estate depend on its value and complexity. None of these fees are payable prior to your passing, and they will only be deducted from your estate so your loved ones and beneficiaries are never out of pocket.
Our prices are considerably below most options for professional executor services - on an average estate, it works out to be approximately 2% of the value of the estate. The exact pricing is included in the terms contained within the executor module.

 

Are jointly held assets included in the estate value?

Any assets that you hold jointly with another person, such as joint bank accounts, or a house that is owned as joint tenants, will not be included in your estate value.

If at the time of your passing you do not own any assets in your sole name, then there will be no estate to distribute in accordance with the Will. If this occurs, we will liaise with your beneficiaries and consider the tasks that need to occur to finalise your estate. It may be that we determine in this instance that Safewill should resign as executor, if it is in the best interest of your estate.

 

How will my family or beneficiaries know to contact the Safewill Executor?

You should provide your family or beneficiaries with a copy of your Will, so that if something happens they know that Safewill should be contacted.