Choose your Estate Trustee Carefully

The BarristonBlog

Choose your Estate Trustee Carefully

21 Feb, 2020

Appointing the executor in your will is an important decision in the administration of your estate.

The executor has the responsibility to faithfully administer the assets in your estate in accordance with the instructions you have provided in your will.

Appointing an executor who is unable to live up to this responsibility can result in delays and unnecessary legal costs in the event that your executor needs to be removed from the administration of your estate

Here are some things to consider in appointing an executor;

  1. Appointment of your executor is done in your will
  2. In the majority of situations consider family members as executor candidates
  3. Obtain the proposed executor’s consent to act as executor before executing your will
  4. Always appoint an alternate executor
  5. It may be appropriate to appoint co-executors
  6. Consider the age and health of the person you are considering as executor
  7. Trust companies can be appointed as executor and are expert in estate administration
  8. Carefully consider the character and capability of the proposed executor.
  9. Continue to review the suitability of the executor you will point. You can always replace an executor in the future by making a new will or amending your will by codicil.

 

Barrie Hayes, Partner

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