The Benefits of Using the Public Trustee as the Executor of Your Will
Preparing a last will and testament is difficult but sometimes the challenges that come after the passing on of the maker of a will are even more difficult. In some cases, wills are challenged by family members on a legal basis, making the execution of the true wishes of the deceased problematic. Indeed, in some cases, even the executor of a will, especially if it is a family member, is called into question.
Why the Public Trustee?
Even though many people are unwilling to have a third party become involved in the execution of a will, it is sometimes the best solution. The public trustee in NSW exists to execute a will in accordance with the wishes of the will maker. In this context, this provide the following benefits:
- Experience: All too often, when a family member is appointed as executor, he or she finds that the pressures applied to him or her in this role are difficult to deal with. Family members and even external influences may make him or her feel as though he or she is under pressure to do something that is not right or that he or she must bear all of the emotional burden of the passing of a loved one. A public trustee sidesteps these issues because they have vast experience administering wills and trusts. In this sense, they will not feel the pressure that is often applied to family members when it comes to executing a will.
- Reliable: The fact is that when a family member is executor of an estate, he or she may not always be accessible. They may have health problems, may be away, or may simply feel too much pressure. By contrast, the public trustee is available at any time. They can answer any questions from official beneficiaries without fear or favour and can be trusted to be responsible and reliable in the disposal of assets and the execution of the will or trust.
- Trustworthy: Being a transparent public entity, the public trustee does not favour anyone when it comes to the execution of a will or trust. Too often, family members who also act as executors are questioned as to their motivations and their biases. The public trustee sidesteps all of these emotional issues very neatly indeed. They will act as an independent entity and do their job to the best of their ability at all times.
Who Can Benefit From the Public Trustee?
Most people will certainly benefit from involving the public trustee but they are especially useful when it comes to administering very large estates and trusts and also where there is a high chance for there to be bias and challenges to the will.