<p>The nominated person that has the responsibility of managing your property and estate when you die is referred to as your &lsquo;executor'. The executor will follow instructions that are set by you to determine how and when your estate is divided upon your death. It is therefore essential that you choose someone who is trustworthy and can be relied upon to meet your requests.</p> <p>The following guide explains the role of an executor with the aim of helping you to choose the right individual for your needs. The guide will explain who is eligible to be an executor as well as who will be chosen to perform this role if you do not name a person yourself.</p> <p><img src="https://localsolicitorspace.ams3.cdn.digitaloceanspaces.com/guide/choosing-executor.jpg" alt="Woman choosing an executor for her will" width="805" height="450" /></p> <h2>What are the responsibilities and duties of an executor?</h2> <p>The <a href="https://www.localsolicitors.com/wills-probate-and-trusts-guides/being-an-executor-or-administrator-of-a-will">executor of a will has a variety of tasks and responsibilities</a>, and their job is very important. Some of the most important duties that must be carried out by an executor include:</p> <ul> <li>Valuing the property and assets of the deceased at the time of their death. This will help to ensure that inheritance tax liabilities are understood.</li> <li>Paying any <a href="https://www.localsolicitors.com/personal-finance-and-tax-guides/guide-to-inheritance-tax">inheritance tax</a> that is due.</li> <li>Selling or transferring assets of the deceased where necessary.</li> <li>Making application to the Probate Registry if a grant of representation is needed. This is sometimes also referred to as &lsquo;applying for probate'.</li> <li>Dividing and distributing property as per the instructions of the deceased as set out in their will.</li> <li>Making payment of any debts or other liabilities that are due, including capital gains and income tax.</li> </ul> <p>It is a legal requirement of the executor to put the interest of any relevant party ahead of their own when acting in this position and this is referred to as acting in a &lsquo;fiduciary role'. If the executor makes any mistakes whilst carrying out their duty, they can be held personally liable.</p> <h2>Who is eligible to act as an executor of a will?</h2> <p>Any person who is aged 18 and over is eligible to be an executor of a will. The law does not rule that beneficiaries who are named in the will are not entitled to be the executor, and in many cases, the executor will also be a beneficiary.</p> <p>Lots of people opt to name their partner or spouse as the executor as they have full trust that their wishes will be carried out. A person is entitled to name up to four executors of their will, but each executor must work alongside any others and must reach agreements before carrying out any of their duties. This may mean that it is not always practical to have numerous executors, though some people opt for this to be sure that their wishes are carried out reliably. The additional benefit to having more than one executor is in case one of the executors passes away before the maker of the will.</p> <h2>What qualities should I look for in an executor?</h2> <p>One of the most important qualities that you should look for when appointing a person to be an executor of your will is trustworthiness. For you to be sure that your wishes and instructions will be carried out as you desire, the executor must be trusted to understand your requirements and fulfil them. The person must also be trusted to manage any disagreements or difficulties in a fair and acceptable way.</p> <p>Additional qualities that will help you be confident in your executor's ability to perform their duties include:</p> <ul> <li>Good communication skills</li> <li>The ability to process paperwork efficiently</li> <li>Legal management capabilities</li> </ul> <h2>Can family members act as executors?</h2> <p>Many people choose members of their family to act as their executor as they can be confident in their reliability and understanding. Some people may choose to name a child as their executor, even if the child is also named as a beneficiary.</p> <p>Before appointing a relative as an executor, it is important to discuss your choice with them. This will help them to ensure that they understand what you want and that they are comfortable that they can meet the demands of the role. If you name a relative before asking them and they then say &lsquo;no' to your request, you would need to amend your will, and this will cost time and money.</p> <p>If you choose to name a relative as your executor, it may be wise to consider having a second person too. This is because your relative is likely to be emotionally invested and distressed following your death. Appointing a second executor will help to relieve some of the stress, and the administrative matters can be shared.</p> <h2>Professionals as Executors</h2> <p>Many people choose a solicitor or banker to act as their executor, and this can be a sensible option, particularly if the distribution of your estate is likely to be more complex. Such professionals are experienced, and you can be sure that they will manage your affairs effectively.</p> <p>Do be aware that a professional will charge you for fulfilling the role of your executor, but this amount can be paid in advance or through your will. Be sure to fully understand how and when the professional will charge before you commit to using their services.</p>

The nominated person that has the responsibility of managing your property and estate when you die is referred to as your &lsquo;executor'. The executor will follow instructions that are set by you to...

How to choose an executor for your will, including who is eligible to be an executor, what qualities to look for in an executor and using a family member.