Who Should Be The Executor Of Your Estate?
By Nicholas Marouchak
17 November 2020 - 1 min read
Choosing the executor of your Will/estate is an important decision, as applying for probate and administering and distributing a deceased estate, can be a lengthy and difficult process.
Your executor needs to be trustworthy, and also someone who you believe will be able to handle the stress that can come with the role.
Legally, your executor can be anyone who is over the age of 18, and has legal capacity. In most cases, people will choose their partner to be their executor. However, for elderly couples there is the possibility that their partner passes away before them, in which case, they may choose to make one or more of their children their executor.
If you do not have a partner, you may choose a sibling or a close friend. There is also the option of having your lawyer as the executor of your estate.
Do you only need one executor?
While there is no legal requirement to have more than one executor, we strongly recommend that you choose one or two primary (instituted) executors, and perhaps a back up (substitute) executor. This way, if anything happens to your primary executor, your family will still have an executor, and the will remains valid.
If you do not have a backup executor, and something were to happen to the primary executor, your Will would still remain valid, but the process of finalising your estate becomes more difficult and more costly.