|Who can be appointed an Executor of my Will?
Probably the most important qualification for an executor is to
ensure that the person that you select to be your Executor under your Will
be blessed with common sense and a sense of fairness in following through
the obligations that the executor has under the Will.
jurisdictions have residency qualifications for the Executor, you may wish
to ensure that you select as executors for your Will people who reside in
the state where you live.
If you have made provision that
the Executor is to make payments to the Trustees for any minor children or
grandchildren, then this obligation may continue for many years. As
these are on-going obligations under the trust provisions in the Will
make sure that the executors are not too elderly. You do not
want the executors to decease before the estate is administered and
The naming of an executor under the Will does not
mean that the nominated person must act. This person may decline to act,
as an executor. To protect the estate make sure that you have a
back-up executor named in the Will. Typical, wording is as follows:
"In the event that John Smith neglects or refuses to act as my
executor then I nominate John Adams as my executor." There is no magic in
the wording as long as the intent is clear.
Often an accountant,
financial advisor, or lawyer is also nominated as a second executor.
This joint executor ensures that there is a solid degree of
competence and experience which is especially important if there are
substantial assets involved or Trusts to be