Your executor could make or break your legacy. Here’s how to choose the right one.

Choosing the right executor is one of the most important decisions you will make when preparing your Will. The person you appoint can significantly influence how smoothly the estate administration process unfolds.

Selecting the wrong executor can result in increased costs, delays, and complications. These issues can worsen when communication breaks down between the executor, the beneficiaries, and the estate’s solicitor. Who you choose truly shapes the course of the administration and the experience for your loved ones.

What is the role of an executor?

Simply put, the role of an executor within an Estate is to call in the assets, pay debts, and account to beneficiaries in accordance with the terms of the Will. This role is often completed in conjunction with the Estate's solicitors. The role is a neutral administrative role with duties to act in the beneficiaries' best interests. The executor must act in accordance with the terms of the Will, ensuring that they are adhered to.

Who you might choose?

People often appoint a close family member or a trusted friend—someone who understands their circumstances and the dynamics within the family. Others prefer the certainty and independence of appointing a professional, such as a solicitor, accountant, or trustee organisation. There is no “one size fits all” answer; the right choice depends on your estate and family.

What factors should be considered when choosing an executor?

When deciding on your executor, keep the following factors in mind:

• ‍Age and capacity – An executor must be over 18 and of sound mind. Consider their health and ability to perform the role when the time comes.‍
• Family dynamics – In blended families or situations involving family tension, a neutral or professional executor might reduce potential conflict. Any discontent within the family should be considered at this time.‍
• Time and availability – Estate administration requires time, organisation, and communication. Consider whether the person you are appointing will realistically have the capacity to manage the role, whether this is due to time constraints, location, or other commitments.
• ‍The risk of claims – Potential claims on the Estate may include relationship property claims, family protection claims, claims based on promises, or creditor claims. Should a claim be likely, considerations need to be made as to the potential time and ability required to work with the Estate's solicitors to defend the claim. In situations where there may be discontent within the family, having the right executor can reduce stress throughout the process.‍
• Asset structure – The asset structure of the Estate and the impact this may have on the executor. Complex assets, businesses, or trusts may require a more experienced or professional executor.‍
• Location – Whether the executor resides overseas or may reside overseas in the future. Having an overseas executor can be burdensome for the Estate administration process and may also cause unexpected tax implications.‍
• Multiple executors – If appointing more than one executor, think carefully about how well they work together.

When the wrong executor is selected, an Estate can find itself with increased costs and complexity.

An executor isn’t locked into their role, they can renounce (decline) the appointment when the time comes. However, if no executor is available, the Estate administration can become more complicated, and an application for Letters of Administration with Will Annexed would be required. That’s why it’s important to keep your Will under review. As your life, family, or assets change, your choice of executor may need to change, too.

How can McVeagh Fleming assist?

Whether you’re preparing a new Will or updating an existing one, our team at McVeagh Fleming can guide you through the process and help you choose the executor that best fits your needs. If you prefer an independent and impartial option, we can also act as a professional executor for your Estate.