Who should I chould as my executor for my Will? Here are 3 Tips for picking an Executor.

What are executors?

Executors are the people who will be responsible for carrying out your wishes and for sorting out the estate. I have a separate guide, which explains in more detail the role of the executors but for now I will provide a brief summary.

They will have to gather all the assets of your estate, deal with all the paperwork and pay all the debts, taxes, funeral and administration costs out of money in the estate. They will need to pay out the gifts and transfer any property to your beneficiaries.

Who to choose as executors

You don’t have to appoint more than 1 executor but it is definitely a good idea to do so in case one of them dies, or just doesn’t have the capacity to act when your time comes. Most people like to appoint 2, but you can have as many as 4 executors to split the responsibility for facilitating the will once you’ve passed. Typically, most people appointed as executors are friends or relatives but you can also appoint professional executors, but this will mean fees will be charged. It is important to choose executors with considerable care since their job involves a great deal of work and responsibility. You should always approach anyone you are thinking of appointing as an executor to see if they will agree to take on the responsibility. If someone is appointed who is not willing to be an executor, they have a right to refuse.

Tip 1 for picking an executor:

Pick with your head not your heart. It’s more important that you pick someone who will have the emotional capacity and a practical mind to take on this task. I've heard from clients all the time picking people just because they were worried about upsetting a less responsible person by not appointing them. They have to be responsible enough to, address estate matters quickly, effectively communicate with beneficiaries and make hard decisions when necessary.

Tip 2 for picking an executor:

Name at Least One Younger Executor If you’re young, it’s not unreasonable to pick people your own age but as you get older and your circumstances change you are likely to rewrite your Will. At this point you should try to name at least one additional younger, healthy successor executor who is likely to outlive you.

Tip 3 for picking an executor:

If in doubt get a Professional. Dealing with the death of a loved one is hard

enough but to grieve and deal with all this extra admin is a lot to take on. Sometimes it is better to just choose a professional and accept the fact it may cost the estate but is that cost more important than someone’s mental health? If you do know people who you sincerely believe can step up to the task, then absolutely choose them if not. Appoint a professional. It could be a solicitor, an accountant, or a trust corporation to name a few.

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