What Is an Executor and Who Should You Choose?

When you write a will, one of the most important decisions is naming your executor.

The executor is the person (or persons) who will be responsible for carrying out the instructions in your will and winding up your estate after you die. In other words, they'll make sure your beneficiaries get what you've left them, and all the necessary administrative tasks are handled. Let's break down what an executor actually does, and how to choose someone for this role:

What Does an Executor Do?

Think of the executor as the project manager of your estate. Their duties typically include:

Locating the will and applying for probate

After you pass, the executor will find your will (so make sure they know where it's kept!) and apply for a Grant of Probate (official permission from the court to administer the estate). Probate is often needed to handle assets like property or big bank accounts.

Gathering your assets

They will identify all your assets – bank accounts, property, investments, personal belongings – and possibly secure them (for example, making sure your home is insured and safe, notifying banks, etc.). They may need to get valuations of certain assets (like house or valuables) for the estate.

Paying off debts and bills

The executor must pay from your estate any outstanding debts, bills, or expenses. This could include funeral costs, mortgage, loans, credit cards, taxes (like inheritance tax or income tax due). They may need to advertise for creditors in the Gazette (to cover their back in case unknown debts exist). Basically, settling any liabilities against the estate comes first, before giving out inheritances.

Distributing the estate to beneficiaries

Once debts and any taxes are settled, the executor then follows your will to distribute what's left to your beneficiaries. This might mean transferring money, changing ownership of property, selling assets to turn into cash, etc., as per your instructions. If you left specific items to people, the executor hands those over. If minor children are inheriting, the executor might need to set up trusts or ensure a trustee manages their money until they're of age.

Handling paperwork and legal formalities

There is paperwork at every step – probate forms, tax returns, property transfer documents – the executor either handles these or hires professionals (like solicitors or accountants) to do so, using estate funds. They also may need to keep accounts of the estate's income/outgoings to show beneficiaries everything was done correctly.

Upholding your wishes

In general, the executor's job is to act in the best interests of the estate and the beneficiaries, honouring your will. If any issues or disputes arise (say someone contests the will or a beneficiary can't be found), the executor deals with those, possibly with legal help.

Who Should You Choose as Executor?

You want someone responsible, trustworthy, and reasonably organised/capable. According to Dutton Gregory Solicitors, executors can also be beneficiaries in the will, and you can appoint up to four people to act as executors (though two is most common). Here are some factors and tips for choosing an executor:

Trust and honesty

First and foremost, pick someone you trust to carry out your wishes fairly and diligently. This is often a close family member or friend. Many people choose their spouse or adult children. If you think being an executor might strain family dynamics (say one child is executor over others), you can choose multiple to act together, or pick an impartial person.

Age and health

Choose someone likely to outlive you and be in good shape to handle tasks. For example, naming your elderly parent as executor might not be ideal if they could be frail or predecease you. It's common to name a spouse of similar age, but also consider a backup executor or a younger co-executor in case. You can also name executors in sequence (e.g., "I appoint my wife as executor; if she can't act, then my son.").

Ability and willingness

Being executor can be time-consuming. Consider if the person has the ability – are they organised, good with paperwork, and comfortable dealing with maybe lawyers or banks? Do they live nearby (helpful but not necessary)? Importantly, ask them if they're willing to take on the role. It can be a lot of work during an emotionally difficult time. Most people will say yes if they're close to you, but it's fair to discuss it.

Number of executors

You can appoint more than one. In fact, having at least two executors can be wise, especially if your estate is complex or you want a backup. They can either act jointly (together) or one after the other (substitute). Many couples name each other as executor and also name a grown child or another relative as a secondary executor.

If executors are joint, they'll have to collaborate on decisions, which can be a check-and-balance but also can add complexity if they disagree. Think about family dynamics; if two siblings don't get along, maybe don't force them as co-executors. On the other hand, if you trust both, having two can lighten the load and provide support.

Professional vs. personal

If you don't have a suitable friend/family member, or you have a very large estate, you might opt for a professional executor like a solicitor, accountant, or trust corporation. Professionals ensure expertise and neutrality, but they will charge fees (sometimes significant). Some people name, say, one family member and a professional together – blending personal insight with professional know-how. If your will might be contested or is very complex, a professional executor can navigate those waters.

Resilience under pressure

The executor may have to deal with impatient beneficiaries, legal deadlines, and possibly conflict. So someone level-headed, good at communication, and firm when needed is ideal. They should be someone who will uphold your wishes even if others pressure them otherwise.

Important tips

Remember to inform people of their appointment. It shouldn't come as a surprise. While you don't have to give them details of your will's content, do make sure they're aware they've been named executor and where your important documents are. Provide them with contacts of your solicitor if you used one, etc.

Finally, know that being an executor can be a difficult job, so choose someone who cares about you and your beneficiaries. It's an honor, in a way, to be entrusted with this duty, but it can also be challenging. The right person (or people) in this role will ensure your estate is handled smoothly and with care. As one legal guide notes, an executor should be someone likely to survive you and who will act in the best interests of your beneficiaries – that's a succinct way to put it.

If you can't think of anyone, don't let that stop you from making a will – you can always appoint a professional as a last resort. But most people can identify a reliable friend or family member for the task.

Choosing well now means your estate will be in good hands later.