How to choose the right executor for your will

Choosing the right executor for your will is one of the most important decisions you’ll make when planning your estate. The executor’s role is to ensure that your wishes are carried out and your assets are distributed according to your will. This person will also manage your estate’s legal and financial responsibilities, so selecting someone reliable and capable is crucial.

In this article, we’ll guide you through the key factors to consider when choosing the best executor for your will.

What is an executor?

An executor is the person you appoint in your will to handle the administration of your estate after you pass away. Their responsibilities include gathering your assets, paying debts and taxes, and distributing your estate to your beneficiaries as instructed by your will.

It’s a role that carries legal and financial duties, so it’s important to choose someone who is up to the task.

Qualities to look for in an executor

Trustworthiness

The executor you choose will be responsible for managing your estate and making important decisions on your behalf. Trust is the most important quality to look for in an executor.

You need someone who will follow your instructions faithfully and act in the best interests of your beneficiaries.

Organisational skills

Being an executor requires good organisational skills. The process can be time-consuming, involving paperwork, legal procedures, and deadlines.

An executor must be able to stay on top of tasks, manage documents, and communicate effectively with beneficiaries and professionals like solicitors or accountants.

Financial knowledge

While your executor doesn’t need to be a financial expert, having some understanding of basic financial matters is a plus. They’ll need to handle tax forms, pay outstanding debts, and manage estate accounts.

If the estate is complex, the executor may work with a solicitor or accountant to ensure everything is handled properly, especially if you need to update your will after any major life changes.

Impartiality

Family dynamics can be complicated, especially after a death. It’s essential to choose someone who can remain impartial and carry out their duties without being influenced by family disputes or emotions.

An executor who can maintain objectivity will be better equipped to make fair decisions, even if conflicts arise among beneficiaries.

Availability

Being an executor can take several months or even years, depending on the complexity of your estate.

Make sure the person you choose has the time and willingness to take on the role. It’s also a good idea to discuss the role with them beforehand to ensure they understand the commitment involved.

Who can be an executor?

Family members or friends

Most people choose a family member or close friend to be their executor. This can be a good choice if you have someone you trust and who understands your wishes. However, consider whether the person is capable of handling the legal and financial duties, especially during what may be an emotional time for them.

Professional executors

If you don’t have a family member or friend you feel comfortable appointing, or if your estate is particularly complex, you can appoint a professional executor. This could be a solicitor, accountant, or a specialist executor service. Professional executors charge a fee for their services, but they bring expertise and impartiality to the role.

If you don’t use a family member, friend or professional executor, the state will take over and distribute the estate according to intestacy laws.

Joint executors

You can appoint more than one person to be an executor, which can help share the workload. Many people choose two executors, such as a family member and a solicitor. This combination can offer both personal insight and professional expertise. Keep in mind that joint executors must agree on decisions, which can sometimes lead to delays.

Things to consider when choosing an executor

Age and health

It’s important to consider the age and health of the person you’re appointing. While you can name younger executors in your will, choosing someone closer to your age or younger increases the likelihood they’ll be able to take on the role when the time comes. You can also name an alternate executor in case your first choice is unable to serve.

Relationship dynamics

If you’re considering a family member as an executor, think about how their appointment may affect family dynamics. Choosing one child as an executor over another could cause tension. If you’re concerned about this, consider appointing a neutral third party or co-executors to avoid potential conflicts.

Backup executor

It’s a good idea to name a backup executor in case your first choice is unwilling or unable to serve. This ensures that your estate will still be managed properly, even if your initial executor can’t fulfil the role.

Final thoughts

Choosing the right executor for your will is a decision that requires careful thought. You want someone you trust, who is organised, impartial, and capable of handling the legal and financial responsibilities involved. Whether you choose a family member, friend, or professional, it’s essential to discuss the role with them to ensure they’re willing to take on the task.

Planning ahead by choosing a reliable executor ensures your estate is managed according to your wishes, giving you and your loved ones peace of mind.

If you’re ready to write or update your will, or if you need help finding a professional executor, start comparing wills & probate providers today and ensure your estate is in good hands.