Choosing your Executor

When you make a Will, one of the most important things to do is choosing your executor. Your executor is the person who will deal with the administration of your estate after your death. Your estate will consist of all the property, assets, and investments you own at the time of your death.

Whilst choosing your executor might seem to be a very straightforward decision, there are some very important things to bear in mind.

Is it likely your executor will be around when you die?

It is obvious that your executor needs to be alive when you die. If not, your beneficiaries will face a delay and additional cost whilst another executor is appointed. Most couples appoint each other as executor, but sometimes, it is sensible to bear in mind that we all grow old together and not all of us will retain our faculties until later in life.

Your executor may still be alive but incapable of looking after their own affairs far less your estate. You need to bear this in mind when choosing your executor.

You should also consider where your executor lives. Whilst it might be perfectly acceptable to appoint a child to act as executor, if that child happens to live in New Zealand, it is unlikely to be convenient for them to deal with your estate from distance.

How many executors should you appoint?

It is always sensible to have a back-up plan in case something goes wrong. In the case of appointing an executor, it is very sensible to appoint either joint executors or to have a substitute executor.

In the case of joint executors, should one of the executors die, the other executor will continue to administer your estate without there being any need for further procedure.

If you appoint a substitute executor, in the event of your first named executor passing away before you do, your substitute executor can be appointed to deal with your estate. Clearly, if your first named executor remains alive but your substitute executor dies before you do, it would be sensible to appoint a replacement substitute.

Appointing executors in the case of an unevenly distributed estate

If you intend to appoint any children as executors, please bear in mind that if you have decided on an uneven distribution of your estate amongst your children, appointing an executor who may have a smaller share of the estate than their siblings might lead to a dragging of feet or some petulant behaviour which benefits nobody. It may also lead to a delay in the final distribution of the estate.

Seek the help of an experienced solicitor

There is no substitute for good, solid advice when it comes to appointing your executor. You should discuss the appointment of your executor with your solicitor when you make or update your Will. It is essential that your executor is alive when you are no longer with us otherwise it can lead to delay and expense you can easily avoid.