What executors need to know now!

Over the past 18 months I have worked through the process of being an executor for my sister and inheriting the privilege, not to mention the challenge, of raising her teenage son.

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During that time, I have spoken to a lot of people about my experience and frustration with the red tape, but I have also shared the simple steps that can be taken to ease the process.

I’ve found the main challenge for most people, is not the steps they can take, but moving past the idea that:

  • Nothing is going to happen to me
  • I don’t own much, so I don’t need to do anything
  • My husband and I can’t agree on who will look after the kids, so we haven’t written a will
  • Everything will automatically go to my parents, kids, spouse etc

What people don’t realise, is there is no ‘automatic’. What there is, is a mess for someone else to work out with the courts, the lawyers, the arguing parents and in-laws about who wants or can look after the grandchildren, the kids who don’t know if you want to be cremated or buried and a money drain that would otherwise go to your chosen beneficiaries.

We thought we were organised when my sister died, but if we’d had a better understanding of the process, there was a lot more we could have done in preparation.

This is the reason why I wrote “Cut the Red Tape”, because now you don’t need to be the one who says “If I had only known…”

Rebecca

Rebecca Collett, Managing Director of Snowed Under Solutions

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