This means that you have been named by the maker of the will as the person appointed to carry out the directions of the will.

The role of the executor is time consuming and very important. I have listed some of your duties and responsibilities as an executor:

• Disposal of the body of the deceased
• Pay debts of the estate - secured and unsecured liabilities
• Distribution of the estate assets

• Obtain the last will of the deceased and review its contents
• Make arrangements for the funeral and pay funeral expenses
• Inform the beneficiaries of the will of their entitlements and give them a copy of the will
• Arrange for the care of the deceased’s pets
• Place a notice in a newspaper about the death of the testator
• Hold initial interview with beneficiaries
• Inspect properties and take action to secure assets by changing locks on property and liaising with the relevant insurance companies
• Contact financial institutions and determine holdings and liabilities
• Advertise for creditors of the estate
• Obtain the deceased’s death certificate
• Obtain proof of identity of all beneficiaries
• Obtain financial and accounting advice
• Attend to searches of Australian share registries
• Locate certificates of title
• Compile a complete list of estate assets and liabilities
• Apply for and obtain Grant of Probate
• Bring in money from financial institutions
• Sell real estate and other assets
• Open an interest bearing account in the name of the estate
• Invest funds in an interest bearing account
• File Income tax returns up to the date of death
• Finalise the deceased’s Centrelink or Department of Veterans Affairs pensions and entitlements up to date of death
  
• Inform Medicare
• Arrange transfer of or finalise final accounts for telephone, electricity, gas, and other relevant services
• Finalise and process final refund of contributions to medical insurance funds
• Advise relevant financial institutions to guard against unauthorised use of bank accounts
• Establish Trusts if beneficiaries are under 18 years of age, mentally incapable, or if there are specific instructions in the will
• Provide regular updates to beneficiaries
• Work with beneficiaries to try to resolve disputes
• Prepare legal defence to claims made against the estate
• Confirm entitlements with beneficiaries
• Lodge final estate tax return
  
• Prepare statements of account.

Most likely, you would have been also appointed as a trustee under the will. The duties, powers and rights of trustees in Western Australia which I have listed next are governed by TheTrustee Act 1962(WA).

• Duty to preserve and invest trust property
• Duty to obey the terms of the Will
• Duty to keep accounts and supply information
• Duty to act impartially
• Duty to pay correct beneficiaries
• Power to delegate
• Power of sale
• Powers of management
• Right to seek advice and directions of the court
• Right of reimbursement and indemnity

A year or more is not an unusual time for some estates to be completely administered.The good news is that if you are discouraged by the daunting list of tasks, duties and responsibilities that come with your role as an executor you can retain a lawyer to assist you. The cost for such services will be covered from the assets of the estate.You are not bound to accept the office and may renounce (reject) the executorship role.

I don't see any obstacles for a free service like this to be offered in Australia. There are already several paid online will assembly sites.

It is important to keep in mind that there are several aspects to estate planning and the drafting of the will is done after a thorough investigation by a lawyer of the client's circumstances. The question that remains to be answered is if the logic of such an investigation can be built into an online wills service.

I have included an example of the investigation process I undertake in the preparation of a client's estate plan.

An important step in the estate planning process is to ascertain what assets and liabilities form part of the client's estate. For example, some jointly owned assets or assets held in a trust cannot be gifted in a will.

Below is a chart with assets commonly owned by a testator.

One of the most important tasks for a lawyer advising on your will and estate plan is to identify key risks.

Examples include:

• Protecting your estate assets in case of a financial failure
• Ensuring that gifts to spendthrift beneficiaries are protected from creditors
• Life risk
• Marriage or relationshipbreakdown risk - a binding financial agreement may be suitable
• Taxation issues
• Family business retention

Below is a chart which gives examples of some of the risks and the potentially affected persons.

A trust is an arrangement where one person or organisation (the trustee) holds assets (the trust property) on behalf of another person (the beneficiary). Trusts can be established for a number of reasons such as tax planning, providing for children or charitable causes.

The requirements for setting up a trust depend on the type of trust you want to establish and its purpose. To create any trust in Queensland, you will need to:

• select a trustee who will agree to be responsible for administering the trust in accordance with the terms of the trust deed;
• have a lawyer prepare a trust deed (a legal document that sets out the rules for establishing and operating the trust) that is to be signed by the trustee;
• give the assets (even if only a nominal amount) to the trustee;
• pay stamp duty to the Office of State Revenue if a trust is created over ‘dutiable property’, as that term is defined in the Duties Act 2001 (Qld); and
• apply for an ABN and TFN for the trust online via the Australian Business Register or through a lawyer or accountant.

You should also be aware of additional legal requirements that apply to particular types of trusts. For example: a trust used to run a business must be registered for GST if annual turnover is $75,000 or more; a trust used to run a self-managed super fund must ensure it complies with the relevant superannuation and taxation laws that apply to it; and charitable trusts are subject to special laws and may be eligible for tax exemptions.

You should speak to a lawyer if you want to set up a trust in Queensland. By pressing the "Take Action" button - which opens late July - LawAdvisor can help you search for experienced lawyers and obtain fee proposals for their services.