Marlee Viero

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318 appearances 1 recordings 1 series first heard Jul 2021 last heard Jul 2021

Marlee Viero’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Wills & Estates: Your crash course guide from Nest Legal · 26 Jul 2021 podcast

You can also appoint joint executives.

So if you've got, you know, say a friend who maybe is like a financial planner or a lawyer and you want to appoint them with one of your kids, that's quite a common thing.

Just appoint people that get along with each other that can otherwise cause a lot of heartache down the track and also someone that will get along with the guardian of your children because

That's sort of a working role together.

Your guardian sort of will may need funds for school fees and bits and pieces like that.

And we'll have to communicate with your executor to get an advance of that child's inheritance to pay for those types of things, which is totally doable under a will and very, very common.

It could be the same person, but if it's not the same person, they should at least be able to work well together.

I would think about maybe their family circumstances.

Think about if you can foresee any issues in the future if they passed away and think about how close you feel to that person.

Think about what their, you know, have they been open to you about their assets and liabilities?

Would you, if something happened to them, would you know who they bank with or who their insurance is with?

Think about things like you're going to have to call up

VicRoads to cancel registration on cars and just those little things that people don't think about, calling up the water authority and the council to let them know that they passed away, mail redirections, all of those types of things come into it.

Yeah, and when people appoint a loved one, like a spouse or a child or another family member, often they do it just because they love the person and they do it out of the kindness of their heart.

If you are appointing someone as your executor who's not a beneficiary of your estate, that's when I would definitely start to think about executor's commission to say thank you for acting in that role and appreciating that they're not receiving anything out of your estate.

Yeah, definitely.

So if you didn't want to appoint a family member or a friend or something like that, some law firms will act as executor for you.

So a lot of firms take that on.

Otherwise, state trustees, Australian Unity, there's lots of different places out there that will do it.

Just keep in mind that they charge a significant commission for doing that.

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