Home Our Vision Executors Probate Real Estate Members

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.

As some 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 closed.  

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 administered.
Admin | © Estate Settler 2009 | Privacy Policy | Site Map | Website Powered by SiteMajic