You might think it is an honour to be chosen as the executor for someone’s will but think again! Being an executor is a job for life and is often a difficult and time-consuming position.
Many people don’t understand the full responsibilities of an executor and can end up being incredibly stressful. It is essential that you carefully consider who to appoint as your executor, as this position carries legal liabilities and can often make the person unpopular with the beneficiaries of your estate.
When choosing your Executors, you can select Individuals, Professionals (e.g. Solicitors or accountants) or a Trust Corporation. There are advantages and disadvantages to each type, which must be considered alongside the circumstances.
It is often wise to appoint more than one executor to help balance the workload - appointing a Professional Executor alongside your relative can guide them through the process and ease their burden. It is also important to have more than one in case one of your choices predeceases you or is unable to perform the role.
We can help you learn more about the role of an Executor and provide advice on who you should choose. Contact us for more information.