Australian Finance Podcast

Executor of an estate and first home buyer trade-offs – Q&A

16 snips
Feb 5, 2026
Practical steps for someone named executor of an estate, including paperwork and when to call professionals. Trade-offs on keeping an apartment as an investment versus selling to reduce mortgage and tax timing considerations. How couples can balance contributions when one partner knows more about investing. Choosing legal and tax structures before picking investments like ETFs.
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ADVICE

Start By Locating The Will And Getting Legal Help

  • Find the will and confirm you are named executor before doing anything else.
  • Engage a lawyer for a checklist and to protect yourself, with fees payable from the estate.
INSIGHT

Executor Gathers; Trustee Manages

  • The executor collects assets and readies them while the trustee manages and distributes them.
  • These roles can be the same person, but separating them can clarify responsibilities and reduce conflict.
ADVICE

Use The Six-Year Rule And Document Valuation

  • Use the six-year rule if you move out and convert your home to an investment within six years to preserve main residence CGT exemption.
  • Get a valuation and record dates when the property changes use to support tax treatment later.
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