Who Should You Appoint as Your Will Executor?

There is no denying the importance of appointing a will executor, but who should you choose? Read on to find out our top tips...

There are many options as to who your executor can be, so it might seem confusing to choose people for your own will. Thinking carefully about who to appoint as your will executor will help to reduce executor misconduct through mismanagement, fraud or negligence. This ensures a smooth process for other family members that you leave behind after you pass away.

Anyone over the age of 18 can be the executor of your will, so there are lots of choices out there. There is no rule against people who are named in your will as beneficiaries being your executors too, so your executor could be your children.

You can have up to four executors at one time and they would need to act jointly. Normally, it’s best practice to have two executors at once so one can act if the other passes away before you do or is no longer in a mental capacity to act as your executor. Because of this complex decision, we’ve broken-down the common choices for will executors, and what you should think about when choosing an executor, so read on…

Family Members

A family member can be a good choice as an executor for your will. This could be a child, grandchild, niece, or nephew.

One of the benefits of choosing a family member is that they will have a good understanding about what you want to happen after you pass away, as well as having your best interests at heart.

However, a drawback of choosing family members as your sole executors is that conflict can arise if you have multiple executors who do not have a common goal in mind. So, if choosing family members as your executor, ensure they are all on the same page about what you want to happen.

Your Spouse

Choosing your spouse as an executor might seem like an obvious choice as they know you so well and your wants may be aligned. However, you should think carefully before giving this responsibility to them.

One of the cons about choosing your spouse as your executor is that they might not be able to cope with the responsibility. When you pass away, they will be overwhelmed with emotions already, so this added pressure might become a burden. An executor needs to be able to complete paperwork in a timely manner, which might not be possible when your spouse is grieving.

It would be better to appoint a different person as your executor and they can also help to support your spouse after you pass away.

Banks and Accountants

Many people choose a bank or accountant as their executor. One of the main pros of this is that they have a wealth of experience and know their way around the professional services world.

However, a con of choosing a bank or accountant is that there can be a significant cost to appointing them in the form of a fee, or a share of the assets.

Solicitors

A solicitor can be a very sensible choice as an executor. This is because, alongside the bank and accountants, a pro of using a solicitor is that they have a wealth of experience and knowledge in this field and deal with these situations day to day. In addition, they will understand legal jargon, probate and estate matters, and they will be an expert in overcoming any issues that arise.

Another pro is that a solicitor as an executor can also reduce conflict between family members who have different opinions, taking the difficult decisions out of your family’s hands. Other pros are that solicitors can move quickly and get everything wrapped up.

However, as with banks and accountants, there can be a significant cost to appointing a solicitor.

Public Trustee

If you have no-one that you want to appoint as an executor, your final option is to assign a public trustee. A government official will be someone who steps into this role.

A con with choosing public trustees as an executor is that this person will usually just carry out the directions of your will, so there will be little to no personal touch with this choice. But, this could be a pro, as you know that exactly what you planned will happen.

Top Tips When Choosing Your Executor

Ensure you talk to your executor before making a will

You need to ensure that your executors understand what you want and that they are happy to act on your behalf.

Ensure your executor has time

Being an executor can be a lot of work, and you need someone that can fully commit to the role to ensure it’s a smooth process, so some people might prefer not to be appointed. There are also lots of tasks that some people might not be up to, such as registering your death, arranging the funeral, and informing businesses and organisations of your death.

Choose someone you trust to avoid executor misconduct

Above all, you must choose someone that you trust. You want to choose someone who will answer your wishes and ensure that a fair outcome is decided upon. This can help to reduce the risk of executor misconduct too.

Someone who is good at paperwork

If your executor is good at paperwork, it will be a big help. Someone with a knowledge of law would also beneficial, but wouldn’t be essential as they can always appoint a solicitor if they are stuck.