Appointing the right Executor makes all the difference
It is important to have peace of mind after making a Will. Part of the Will-making process involves the election of one or more Executors.
Your Executor is the person that you choose to help you “execute” or carry out the instructions in your Will. Your Executor will take charge of your assets and property after you pass away, and see that the funeral and administration expenses as well as your outstanding debts or taxes are paid, before distributing the balance of your assets in accordance with your instructions.
You can choose more than one person to be your Executor, and you can have them act together or in an individual capacity.
Because your Executor carries out such an important function it is important that you choose your Executor wisely. Your Executor can be a family member, a person named in your Will, a beneficiary, or an independent person, unrelated to your family, such as a solicitor. Depending on the dynamics of your family, you should carefully consider who you elect as the Executor of your Will.
It is common for family members to be elected Executors, however if a family has not been getting along well it might be wise for you to elect an independent person to become an Executor.
Before settling on an Executor you should discuss your intentions with your intended Executor. That person must be comfortable with assisting you with taking care of your estate.
You should also consider if there is any need to appoint an alternate Executor, as there may be unexpected circumstances which may cause
your first choice of your Executor to be unable to become your Executor.
Most importantly of all, you must have peace of mind at the end of the process, knowing that your Executor will carry out your last wishes in accordance with what you have in mind.
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