Who Should Be an Executor - Top Tips For Choosing the Right People |
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By: Mark J Jackson Posted: 2008-10-30 07:53:23 |
| Being an Executor in a Will is an important role with quite a bit of responsibility. When you are writing your Will the choice you make on who will be your executors will have an impact much later on when unfortunately you will not be around. Your Executors will be carrying out your wishes as you have stipulated in your Will. They have no say in who gets what (unless you give them discretionary powers) but they can delay the distribution of your estate if they don't do things correctly.In your Will you can nominate as many executors as you want but remember only 4 executors can act and if you nominate more than 4 then the probate office will asked all the nominated parties to decide which 4 will act. Also it is advised that you nominate at least two Executors in your Will as two are required to sell any |Land or property. For most married couples the obvious choice is to nominate each other and at least an other.The first thing to do is make a list of potential Executors, then actually ask them if they would do the job. Please note that even if you do ask someone and they say they are not legally bound to do the Job. At the time they can just say "no I don't want to do it" They can't be forced.Here are some of the main criteria for who you choose.1) Trust - Do you trust them2) Age - Don't nominate someone older3) Location - Are they local or live half way round the world4) Up to the Job - could they do the job?5) Willingness. have you asked them?6) Acceptable -They will have to interact with the rest of the familyRemember to choose carefully and also keep your will updated so that these nominations are up to date. |
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