When it comes to organising your estate, knowledge is power. Here is everything you need to know about choosing the right executor.
Death is a topic that most of us don’t like to spend too much time dwelling on. But the reality is that being organised about your affairs now can save headaches and heartaches for your loved ones in the future.
However, getting your will organised can feel like a significant task, and you might not know where to start. One of the most common questions regarding settling estates is how to choose the right executor. Understanding what an executor is – and what makes someone fit for the role – will take you one step closer to organising your last will and testament successfully.
What is an executor?
An executor is arguably the most important person involved in the organising of an estate, outside of the estate owner. In short, an executor is a person named in the will who is tasked with sorting out the estate of the deceased individual.
By estate, we refer to all of the assets you own, including property, money and possessions. It is your executor’s job to make sure that your wishes are followed and your estate is given to the people you want to have it.
Who should you choose as your executor?
Who fills the role of executor for your estate is a decision only you can make, unless you are unable to make your own decisions for medical reasons. Executors can be friends or family members. They don’t need to be related to you, but they should be someone you feel you can trust implicitly, and someone who is prepared to take on the responsibility of the role. You can also choose someone who is also inheriting something from your will.
Can you have multiple executors?
You can have more than one executor. In fact, it’s often advisable to choose at least two executors, as this allows them to share the responsibility. If you are leaving anything to a minor beneficiary you must appoint at least two executors. You can appoint up to four executors in total.
What if you don’t know anyone who can fill the role?
If you don’t know anyone who you’re willing to appoint as an executor – or your family and friends aren’t willing to take on the role – you can appoint a professional executor in the form of a solicitor or an accountant. This is often advised if your estate is particularly complicated or sizeable.
Will writing support is available for you
Will writing can feel like a mammoth task, but support is available for anyone looking to get their affairs in order. With the assistance of experts behind you, you can ensure that the agreement you create reflects your wishes, and is both transparent and water tight. Head of Wills, Probate and Trusts at Winn Solicitors, Rebecca Harbron Gray, explains the importance of effective will writing, saying:
“Many people avoid writing a will and making plans for death for many years because they think it is a morbid or depressing process. But the truth is often that, once complete, people get a sense of comfort and relief from knowing that they have done all they can to protect and care for their nearest and dearest.
“At Winn Solicitors our team has decades of experience in this specialist field of law and we know how to make it simple and stress-free – no matter how complex your estate or family situation.”
With a dedicated team of legal specialists in settling affairs, Winn Solicitors can help you create a will that offers complete peace of mind and security for your family, no matter what the future holds.
If you’re looking for expert estate planning solicitors, get in touch with Winn Solicitors today.