Choosing the Right Executor

It’s Not Just About an Executor’s Skills

When you write a Will, selecting an executor is one of the most critical decisions. This person has the crucial responsibility of overseeing the administration of your estate after your death. While competence is essential, other qualities matter a great deal when choosing your executor.

What An Executor Does

Executors carry out the wishes expressed in your Will. Their duties can include:

Locating and securing assets by identifying all accounts, real estate, valuables, etc.
Managing liabilities. This includes paying outstanding bills and taxes and resolving any disputes with creditors.
Distributing property and assets to beneficiaries under the terms in the Will.
Legal and administrative tasks, including handling probate court proceedings and filing necessary legal documents.

Key Traits an Executor Needs

An executor handles an individual’s assets, including property, so they must be trustworthy. Potentially, this involves large sums of money. Executors must be honest beyond question for the protection of the beneficiaries.
The administration of an estate involves meticulous record-keeping, paperwork, and deadlines. So, an executor must be organised, detail-oriented, and able to manage a complex process.
Being an executor is a time commitment. They must have the time and mental bandwidth to handle the added responsibilities on top of their own life.
If the terms of the Will are complex or there is potential for family disagreement, the executor must remain emotionally detached and strictly follow the written wishes.

Choosing the Right Executor(s)

As you’d expect, there’s no one-size-fits-all solution, but common choices include:

A family member or close friend. However, they need a suitable skill set, and there’s a chance that being an executor could strain relationships within your family circle.
Professional executor(s). Lawyers, accountants, or banks provide the right expertise and neutrality. Professional executors charge fees but can save money in the long run by preventing costly legal errors and maximising tax efficiency.
Co-executors. Appointing multiple executors can ensure a division of labour and a balance of skillsets. However, it would be best if you considered whether the executors can work effectively together.

Important Considerations

Your chosen executor(s) must be willing and prepared to accept the responsibility.
Consider potential tensions or conflicts between executors and beneficiaries. A neutral (professional) person(s) might be better in certain situations.
Consider the geography. If an executor lives far away, this can create unnecessary logistical difficulties.
Choose someone young and healthy enough to see the process through.

Our Advice

Choosing an executor is a decision as important as making the Will itself. It’s much more than merely finding someone wise or good with numbers. Choosing the right person ensures an estate is handled efficiently, an individual’s wishes are respected, and their beneficiaries avoid unnecessary conflicts.

For more information or advice about creating a Will, identifying suitable executors, or any other estate planning matter, please get in touch with us. Our specialist lawyers will work with you to understand your specific needs and goals, offering personalised advice to ensure your assets are distributed according to your wishes and your loved ones are protected.

Please note that all views, comments or opinions expressed are for information only and do not constitute and should not be interpreted as being comprehensive or as giving legal advice. No one should seek to rely or act upon, or refrain from acting upon, the views, comments or opinions expressed herein without first obtaining specialist, professional or independent advice. While every effort has been made to ensure accuracy, Curtis Parkinson cannot be held liable for any errors, omissions or inaccuracies.