Choosing Your Executors
Understand the role of executors and how to choose the right people for this important responsibility.
Last updated: 1 December 2024
What is an Executor?
An executor is the person (or people) you appoint in your Will to carry out your wishes after you die. They are responsible for managing your estate, paying any debts and taxes, and distributing your assets to your beneficiaries.
The Role of an Executor
Being an executor is a significant responsibility. Their duties include:
- Registering the death and arranging the funeral
- Applying for probate (the legal right to deal with the estate)
- Identifying and valuing all assets and liabilities
- Paying any outstanding debts, bills, and taxes
- Distributing the estate according to the Will
- Keeping accurate records of all transactions
- Handling any disputes or claims against the estate
Who Can Be an Executor?
Almost anyone over 18 can be named as an executor, including:
- Family members (spouse, children, siblings)
- Close friends
- Solicitors or professional advisers
- Banks or trust corporations
- Beneficiaries of your Will
How Many Executors Should You Appoint?
You can appoint between one and four executors. We typically recommend appointing two executors for these reasons:
- They can share the workload and responsibilities
- One can act if the other is unavailable or dies before you
- Two signatures are often required for property transactions
- It reduces the risk of fraud or mismanagement
Qualities to Look For
When choosing your executors, consider these qualities:
- Trustworthiness: They will have full access to your financial affairs
- Organisation: The role requires attention to detail and record-keeping
- Availability: They need time to dedicate to administering your estate
- Good health: They should be likely to outlive you
- Impartiality: Ability to act fairly if disputes arise
- Financial competence: Comfortable dealing with money matters
Professional vs Personal Executors
Personal Executors (Family/Friends)
Pros: They know you and your family, usually act without charge, and can provide emotional support to beneficiaries.
Cons: May lack experience, could be emotionally affected by your death, and might find the role overwhelming.
Professional Executors (Solicitors/Banks)
Pros: They have expertise and experience, can handle complex estates, and provide impartiality.
Cons: They charge fees (often a percentage of the estate), and may be less personal in their approach.
Important Considerations
- Always ask permission before naming someone as executor
- Consider naming substitute executors in case your first choices cannot act
- Keep your executors informed about where your Will is stored
- Provide them with information about your assets and wishes
- Consider whether your executors should also be beneficiaries
What If an Executor Cannot or Will Not Act?
If an executor is unable or unwilling to act, they can:
- Renounce: Formally give up the right to act (before taking any steps)
- Have power reserved: Not act immediately but retain the right to join later
This is why naming substitute executors in your Will is important, providing a backup plan if needed.
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