Tips for Choosing the Executor of a Will

Tips for Choosing the

Executor of a Will

by Dr Edgar Paltzer

Estate Planning

EXECUTOR OF A WILL Tips for Choosing the Executor of a Will The executor of a will is a named individual or entity who takes on the responsibility of distributing assets after the testator dies, in accordance with their wishes as expressed within the last will. Choosing the right executor is therefore essential to ensure that assets are fairly and equitably distributed.

Who Can Be an Executor?

There are no set rules as to who can be named as executor of a will, other than the named individual must be of age.

Beneficiaries of the will can be named as the executor, but they cannot also be one of the official witnesses to the signing of the will.

2

Family Members Many people name a family member as the executor of their will, as they are generally trusted people and might not charge a fee. Consider who could be best placed to deal with the responsibility at the same time as grieving – a spouse or partner may or may not always be the best choice for various reasons.

Professionals Professionals such as the family lawyer or accountant may be a good choice. There will be a fee to pay, but they can act impartially and are less likely to be emotional.

3

You can learn more about estate planning by visiting the blog of Dr Edgar Paltzer.