Choosing the Right Executor for Your Will | Estate Planning Advice

Who should I choose as my executor?

The importance of choosing the right executor

When making your Will, selecting the right executor is crucial. Your executor is the person responsible for carrying out the instructions in your Will, managing your assets, paying debts, and distributing your estate to beneficiaries. This role can be legally and administratively demanding, so it’s important to appoint someone who is both capable and trustworthy.

A poor choice of executor can result in delays, disputes, and financial losses for your beneficiaries. That’s why this decision should not be made lightly or simply to appease family dynamics.

What qualities should an executor have?

An executor does not need to have legal or financial qualifications, but they should possess qualities such as honesty, reliability, attention to detail, and the ability to communicate well with beneficiaries and professionals. They must be willing to take on the responsibility and capable of handling paperwork, timelines, and sometimes difficult family dynamics.

An executor’s duties may include applying for probate, locating and valuing assets, paying any outstanding debts and taxes, and distributing the estate. If they fail to carry out these duties properly, they can be held legally accountable by the beneficiaries or the Court.

Appointing all children: a common but risky choice

Many clients consider appointing all of their children as joint executors to “keep the peace.” However, this decision often leads to more conflict, especially if the siblings have strained relationships, differing opinions, or varying levels of ability and commitment.

The action of one executor is binding on all the executors, even if they have not reached agreement. An exception is when estate property is being sold, mortgaged or leased, in which case the executors must act jointly, unless the Court has given leave. If even just one executor is uncooperative, it can cause significant delays and distress. In some cases, the dispute may escalate to legal proceedings that drain the estate’s resources.

Rather than appointing all the children, it may be better to choose the one or ones most capable of handling the responsibility. While the other child or children may be disappointed, they have little legal recourse as long as the executor carries out their duties properly.

Considerations when appointing elderly parents

Younger individuals sometimes name their parents as executors, especially if they are seen as impartial and experienced. While this can be a practical choice, it’s essential to consider the long-term suitability of the appointment.

A parent who is currently capable may face health or cognitive challenges in the future. If they are unable to act when the time comes, your estate may face unnecessary delays or costs associated with appointing a replacement. It’s wise to review your Will every two to three years to ensure your executor is still a viable choice.

When a professional executor may be the best option

If you don’t have a suitable family member or friend, or if you anticipate potential conflict among beneficiaries, appointing a professional as executor can be a wise decision. This could be your lawyer, accountant, or another trusted advisor.

Professional executors bring experience and impartiality to the role. They are typically well-versed in probate law and estate administration and can ensure your estate is handled efficiently and according to your wishes. They do charge fees for their service, but these are paid from the estate, not by your beneficiaries personally.

Using a licensed trustee company

Another reliable option is to appoint a licensed trustee company. These organisations specialise in estate management and act as executors for many clients. They are regulated entities and have a higher legal duty of care compared to individuals.

Trustee companies offer expertise, continuity, and impartiality. They typically charge a fee based on a percentage of the estate’s capital value. Their experienced approach ensures your estate is administered in accordance with the law and your intentions.

This option is especially useful for complex estates, high-value assets, or situations where no clear or trusted individual is available to serve as executor.

Final thoughts

Choosing the right executor is about more than just keeping family harmony—it’s about ensuring your estate is managed properly and your loved ones are protected. If you’re uncertain, seek legal advice to help evaluate your options and make a well-informed decision.