It is important to choose a reliable and suitable person as the executor of your estate. This person must be able to carry out the wishes you have recorded in a careful and objective manner. In addition, he or she must be able to resolve any conflicts between heirs in a neutral manner.

It may be wise to appoint several people when appointing an executor. This can help to divide the responsibility.

It is also important to discuss with the intended executor beforehand whether he or she is willing to fill this role. The person may not be able to take on the role of executor at a later time for personal or practical reasons.

If you choose to appoint an heir as executor, it's important to make sure that he or she is able to properly separate both roles. This can prevent potential conflicts of interest and disagreements within the family and between the heirs.

It is important to choose an executor who is trustworthy and knowledgeable, as they will play a crucial role in handling your estate. It is advisable to seek advice from your notary when selecting an executor and to include clear instructions in your will about his duties, powers, and financial compensation.

An executor's duties can vary depending on the specific provisions in the will and the wishes of the deceased. Generally, the duties include administering the estate, determining debts and receivables, paying any debts and taxes, and distributing the remaining assets to the heirs.

The executor has a fiduciary responsibility, which means that he or she must act in the best interests of the estate and the heirs at all times. The executor must keep accurate records of all financial transactions and must ensure that the assets are distributed in a fair and equitable manner.

1. Administration of the estate

By giving the executor access to your details in the About Time app, he can easily consult this information and use it when settling your estate and drawing up the inventory of the estate. It is important to ensure that the executor has the necessary information to manage your assets and debts and to ensure their proper distribution. It does not matter whether the balance of the estate is positive or negative.

Using the About Time app and giving access to the executor facilitates the management and settlement of your estate. However, it is important to also consider other legal and financial aspects of the probate process and seek professional advice if necessary, such as from your notary or from the tax authorities.

Inventory of inheritance law (rechtspraak.nl)

2. Informing heirs

Your executor will inform your heirs of the contents of your will, the status of the estate, and any specific provisions or instructions. He will also inform your heirs of their rights and obligations.

The executor will also communicate with your notary, the tax authorities, banks and other authorities to arrange matters related to your estate. The executor will also be responsible for settling debts and distributing assets and assets according to the instructions in the will.

The executor has a legal responsibility to protect the interests of the estate and the heirs. He must act diligently and ensure that all administrative and legal obligations are complied with.

3. Dividing the possessions

Your executor has the responsibility of handling matters relating to the estate. This includes not only dividing the personal property, but also arranging matters such as the sale of the house and distributing the proceeds to the heirs, as well as carrying out specific provisions from the will.

4. Inheritance tax return

The executor has the task of completing the inheritance tax return and submitting it to the Tax and Customs Administration. In this declaration, the executor must state the value of the estate. This value can be determined by, for example, an appraisal of assets, such as real estate, vehicles, jewelry, artwork, and financial assets such as savings, stocks, and bonds.

When filling out the inheritance tax return, the executor can make several choices that may affect the tax due. Some examples of these choices include:

• Making use of exemptions: Exemptions apply to inheritance tax, such as a general exemption and specific exemptions for partner, children, grandchildren, etc. The executor can choose to use these exemptions to reduce inheritance tax.
• Dividing the estate: The executor may choose to divide the estate in such a way that the heirs can make the best use of any exemptions.
• Valuing assets: The executor may choose to value the assets in a certain way, which may affect the final inheritance tax. For example, valuing a house at the WOZ value or at an appraisal value.
• Settling debts: The executor can ensure that any debts are included when determining the value of the estate, which can reduce the amount of inheritance tax.

It is important that the executor works carefully when filling in the inheritance tax return and takes into account the tax rules and possibilities. It is therefore wise to consult a specialist, such as a notary or tax specialist, to ensure that the inheritance tax is handled correctly and optimally.

Inheritance and inheritance tax (belastingdienst.nl)

The remuneration for an executor is not determined by law. It is therefore wise to record something about this in the will or in a separate agreement. This will help avoid misunderstandings and conflicts.

It is customary to reimburse 1 to 5% of the value of the estate to the executor. The percentage can depend on the size and complexity of your estate and what exactly you expect from your executor.

You can also choose to pay an hourly wage. Of course, it is important that you have the number of hours worked registered by your executor and make clear agreements about the rate.

If there are no specific guidelines, you can look at a reasonable and fair compensation based on the size and complexity of your estate and the role and commitment of your executor. This method can lead to differences of opinion a little more easily.