Being asked to act as executor of a friends will

[nucopia]

A close personal friend of myself and my family has asked me to be the executor of their will.
They are in their 90s still active but their health is failing them.
They approached me because they wanted to write a new will to revoke an older will that named their now deceased child as a beneficiary to their estate, and because the deceased child's surviving spouse is untrustworthy and has been obtaining financial gain from my friend over the past few years , through emotional manipulation and continues to try and gain more up till now.
I was sad shocked and a little angry when my friend told me just how much money they had been pressured into giving over to this person.

This friend had recently been admitted to hospital and after discharged , approached me and asked If I would assist them to write out a new will and act as the executor of their will.
I suggested we approach a lawyer together but it seems that financially they are now no longer in a position to pay one to do it for them.
He wants to ensure that the son in-law who is named as their next of kin at the hospital , does not gain any benefit after he is gone and that those who should rightfully benefit are given what he feels is a fair if small equal share of the estate.

I have never been in this position before and to be honest after reading up on the legal guides to writing a will and being the executor of an estate, I see that it can become a very complex and highly responsible role to take on.

Has any one else been asked or have they ever acted as an executor of some ones estate ?

 

[7.62marksman]

Been there done that twice
Once without a lawyer lost everything
Once with a lawyer doing the paperwork they got nothing
Yes i have and two things
1 if you do it yourself then its a waste of time as they can say it was done with him NOT being of sound mind and they can and will fight it in court and win. You then will be dragged into court and will have to prove he was of sound mind and will cost a lot more then a lawyer doing the will
2 it might cost a bit but get legal to do yes they can fight it in court but there is less chance of them winning

 

[nucopia]

I read that in the guidelines.
What I intend to do to address that issue is make an appointment with the local G.P who knows us both and ask that he issue a medical certificate and witness the signing of the will. We have both been using the same surgery for years and the doctors and staff know us both very well.
I will also have a JP witness the signing of the will and then lodge the will with the NSW public trustees.

 

[Balmain Bob]

Ive been Executor an 2 estates and the best advice that I can give you is .

If it is a simple, straight forward Estate just involving say a house , car , bank account and personal possessions than it can be an easy task to execute even if probate is required.
If it is more complicated, say with shares, multiple properties and beneficiaries then got with a solicitor who specializes in Deceased Estates

With regard to the Will, itself, Pay the money and get it drawn up by a solicitor. That way mistakes will be eliminated and if it is challenged by a potential beneficiary then
it has the backing of being drawn up by a legally trained person.

You can always go to the Public Trustee in your state and seek their advice.

Also make sure that your friend has made his intentions clear with the funeral requirements ( usually included as a paragraph in the Will) and if he has funeral insurance, make sure that you, as the Executor, are the beneficiary of the insurance.

 

[user 4485]

The NSW Trustee & Guardian will draw up a legal will for them free of charge if they are on Centrelink Age Pension.
You can still be named as the Executor if you wish or they will do that too. There are fees based on the value of the final will if NSW TAG become Executors i.e. 4.4% for first $100000, 3.85% second $100000 & so on or minimum of $220. They will explain that if required.

 

[nucopia]

Its a simple estate ..assets comprise of a paid for funeral plot , personal effects , house contents(furnishings etc) , a small amount in the bank, a car and a small dog.

The dog is going to my mother.
The house my friend lives in is owned by the eldest son.
There is no other real estate shares or large sums in the bank or investments.
The son in-law did a good job of cleaning my friend out over the last few years
From a practical perspective after paying any debts ,phone electrics water Foxtel and then paying the funeral expenses , I cant see much being left over apart from a car some furniture and a lot of memories.

.

 

[nucopia]

The NSW Trustee & Guardian will draw up a legal will for them free of charge if they are on Centrelink Age Pension.
You can still be named as the Executor if you wish or they will do that too. There are fees based on the value of the final will if NSW TAG become Executors i.e. 4.4% for first $100000, 3.85% second $100000 & so on or minimum of $220. They will explain that if required.

Thanks mbasko, I was looking at that option also.
He is a DVA pensioner ( Korean War vet) so qualifies to have his will done for free. I will call the state trustees tomorrow and see how to go about it.
My friends estate would not be worth much above 20 k now.
As I said previously, once the funeral and debts are paid out the balance will be very little.

 

[AngerManagement]

If straight forward - it is not too bad but can still take time and $

If any family issues, then a can of worms. I someone (direct family) is taken/left out; then under SUCCESSION ACT etc. it can be a legal nightmare.

BEEN THERE DONE IT. 4 years of legals and court cases.

And worse still I am soon to be in another ongoing legal battle due to family.

One estranged family member who is a mental patient and a drug user but no contact for 30 years with his surviving parent. Others have supported and looked after said parent. SUCCESSION ACT will mean that that said estranged person is entitled to equal entitlements.

While property and other bits have been agreed to by the others and not all equal BUT every one happy. The estranged person can make a claim and then; every thing goes into the pot and gets divided equally. Can be fought in the courts but all costs $$.

Add in the rolls of a POA and the Executor ( yes one stops and the other starts) and you own financial dealing as the POA can come into question. Having Financial guardianship ALONG with Health and then any advice you may have provided re $ or health is up for scrutiny. All financials have to be 110% open and visible and need a 3rd party to sit in/review any health decisions. NOT good for the remaining 87 year old parent and adds significant stress to all parties.

Just my 2c worth, but can only speak from my first hand experience. Am sure many others never have as much of an issue.

Friggin NIGHTMARE and only winners are the lawyers and the family members that sit back and expect a winfall because of blood rather than hard work.

 

[nucopia]

Just spoke with the friend and we are going to call the state trustees tomorrow and make an appointment to talk with them about making out the will.
Seems the safest simplest option.

 

[Manpa]

Nucopia, I have acted as executor of my fathers will, and like your friends it was relatively simple, I did however have to chase up shares etc but no probate was required.
I would still suggest that you seek out a lawyer who is willing to put together a will, as it is relatively simple affair the costs should not be too high.
Should the son in law wish to challenge the will as I understand it all legal costs are borne by the estate and this will only diminish his returns.
If money is an issue I would certainly go with the public trustee as administering the will is usually a fixed percentage at varying $ of estate value.
I was also a JP for 30 plus years and I would recommend that when the time comes you get a minimum of 12 certified copies of the will and death certificate, you will be surprised who will require copies. Also if you go to the Centrelink or Dept of Human Services they have a comprehensive check list of who needs to be notified and the relevant contact numbers etc.

Good luck

 

[AngerManagement]

ManPa 3 years post my mum AND I still have to fax copies of death Certificate etc.

So many little things slip through and then a bill or renewal from someone that requires more formal responce/action.

 

[goldtrapper]

Seeing as the Son in Law has been drawing money off the Gentleman over a period of time he may claim a dependence on the old fellow.

 

[Ridge Runner]

If and when the Gentleman has passed AND If the Son in Law Borrowed that money He is Liable to pay back that money because it was a Loan it is classed as part of the Gentleman's Estate, So If it was a loan this applies but if there was no agreement about paying it back either verbal or written then the above does not apply,

J.

 

[nucopia]

I think my friend is resigned to the fact that the money is gone and wont be coming back.
The son in-law is a notorious con artist and fraudster with a long criminal record and has served a couple of stints in jail for defrauding women .
About 10 years ago he was involved in a scheme to extort a group of Wollongong council figures and developers who were already under investigation by the Independent Commission Against Corruption.. in 2002 the Sydney Morning Herald called him "Australia's cruellest con artist"
the paper said , That he used his "estranged" wife's battle with cancer as one means of invoking sympathy from vulnerable women, and was sentenced in 1999 to a minimum 15 months' jail for 26 frauds against a woman from whom he obtained $70,000.

]

 

[Ridge Runner]

I think my friend is resigned to the fact that the money is gone and wont be coming back.
The son in-law is a notorious con artist and fraudster with a long criminal record and has served a couple of stints in jail for defrauding women .
About 10 years ago he was involved in a scheme to extort a group of Wollongong council figures and developers who were already under investigation by the Independent Commission Against Corruption.. in 2002 the Sydney Morning Herald called him "Australia's cruellest con artist"
the paper said , That he used his "estranged" wife's battle with cancer as one means of invoking sympathy from vulnerable women, and was sentenced in 1999 to a minimum 15 months' jail for 26 frauds against a woman from whom he obtained $70,000.

]

It's funny how the sentence never matches the crime, Either way I would let the powers that be know a bit about the background regarding this person along with what he has basically stolen from your friend, Just Mark his cards with the police etc because with his history it won't take much to clip his wings.

 

[magneticsand]

]

It's funny how the sentence never matches the crime, Either way I would let the powers that be know a bit about the background regarding this person along with what he has basically stolen from your friend, Just Mark his cards with the police etc because with his history it won't take much to clip his wings.

How would you suggest doing that? The OP is a third party with no proof.

 

[Ridge Runner]

]

It's funny how the sentence never matches the crime, Either way I would let the powers that be know a bit about the background regarding this person along with what he has basically stolen from your friend, Just Mark his cards with the police etc because with his history it won't take much to clip his wings.

How would you suggest doing that? The OP is a third party with no proof.

Easy, I would get what ever info I need to back up the claim, people like that are creatures of habit.

 

[magneticsand]

]

It's funny how the sentence never matches the crime, Either way I would let the powers that be know a bit about the background regarding this person along with what he has basically stolen from your friend, Just Mark his cards with the police etc because with his history it won't take much to clip his wings.

How would you suggest doing that? The OP is a third party with no proof.

Easy, I would get what ever info I need to back up the claim, people like that are creatures of habit.

Pretty hard to document cash, "gifts" and loans without paperwork.
Hard to document stuff sold on peoples behalf but the sale price being higher than whats handed over.
Hard to document stuff like always paying for dinners drinks, groceries.

There are heaps of ways his mate could have been leeched off with no recourse.
My advice is to stay out of that part of it and simply carry out the old guys wishes.

 

[Ridge Runner]

]

It's funny how the sentence never matches the crime, Either way I would let the powers that be know a bit about the background regarding this person along with what he has basically stolen from your friend, Just Mark his cards with the police etc because with his history it won't take much to clip his wings.

How would you suggest doing that? The OP is a third party with no proof.

Easy, I would get what ever info I need to back up the claim, people like that are creatures of habit.

Pretty hard to document cash, "gifts" and loans without paperwork.
Hard to document stuff sold on peoples behalf but the sale price being higher than whats handed over.
Hard to document stuff like always paying for dinners drinks, groceries.

There are heaps of ways his mate could have been leeched off with no recourse.
My advice is to stay out of that part of it and simply carry out the old guys wishes.

Trouble is nucopia can't stay out of it because he has been asked to help by the Gentleman, One thing I would do is place hidden cameras around the place like those that are fitted inside of plug sockets and plants etc and then have them record when ever that clown turns up, There is more than one way to skin a cat, Wish I lived closer,

 

[madtuna]

Dude! he's executing his old mates will, he's not making an episode of to catch a preditor with Chris Hanson