How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Chris The Lawyer Your Own Question
Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22809
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
32702153
Type Your New Zealand Law Question Here...
Chris The Lawyer is online now
A new question is answered every 9 seconds

What are the legal responsibilities of an estate executor?

Customer Question

What are the legal responsibilities of an estate executor ?
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

If you are named as the executor of a will, your first duty would be to organise the funeral. You must then find out the assets and the debts in the estate and start the process of gathering in the assets and payment of debts. If there are substantial sums of money, as in over $15,000 or real property such as a house or other valuable assets you will need to apply for probate of the will. This can be a technical process, and most people will instruct a solicitor to make the application. Many also ask the solicitor to help with the administration of the estate. If there is real estate to be sold you will need the solicitor to help with that. Once the assets have been gathered in, and the debts paid, then you must pay out the legacies in the will to the beneficiaries. It is possible you may need to file a final tax return but this depends on the income status of the deceased person. Once this has been completed that is all that is needed to be done.

Related New Zealand Law Questions