Making a Will: Choosing an Executor

When you make a will, you need to appoint an executor. 

Choosing the wrong executor will lead to unnecessary costs and delay and potential family dispute.

To make a wise choice, you need to understand what an executor does and the skills they need to perform the role.  Your particular circumstances and family dynamics must also be considered.

So, what does an executor do?

The executor is responsible for administering your estate when you die (your “estate” being your assets and liabilities at the time of death). 

This generally involves:

• making your funeral arrangements (if not already done);

• applying for a grant of probate (a document issued by the court certifying that your will is valid and the last one made and confirming the authority of the executor to administer your estate);

• identifying and safeguarding your assets until they are distributed in accordance with your will;

• lodging any outstanding income tax returns on your behalf;

• closing bank accounts, social media accounts etc;

• paying your debts;

• selling or transferring ownership of your assets; and

• whatever else is needed to distribute your estate in accordance with the terms of your will.

Who should be appointed?

Finalising another person’s estate is a heavy responsibility.  It can also be a time consuming and complex process, involving a lot of paperwork and liaison with banks, accountants and the tax office.  The time it takes depends on what needs to be done, but 6 to 12 months is not unusual.

To ensure the process is as smooth as possible, it is important to select an executor who:

• is capable of handling the paperwork involved and can work with legal and financial advisers to get the job done (if assistance is required);

• is motivated to finalise your estate (the role is generally unpaid); and

• lives in the jurisdiction where the majority of your assets are.

It is common to select a person who inherits from your estate (a beneficiary) to act as executor.  They are generally motivated to perform the role out of love and because finalising your estate means simplifying or adding to their own.  Spouses generally act as executor for each other, or adult children in the case of older people. 

How many executors should be appointed?

Generally speaking, it is best to appoint one executor.  Having more than one executor can slow things down and increase costs (leaving less in the estate for the beneficiaries).  However, it is really important to appoint a substitute in case the person initially appointed is unable or unwilling to perform the role when required.

There are circumstances where having two executors acting jointly is beneficial.  If disputes between family members are likely, or there is potential for conflict between a spouse or adult child of a current relationship and adult children from a former relationship, having more than one executor can be helpful (provided the executors can work together). 

The will-maker’s family circumstances should always be taken into account when selecting executors.

The role of lawyers

Lawyers often help executors administer an estate by performing tasks such as applying for a grant of probate.  However, be wary of any lawyer who drafts your will and suggests that they be appointed executor.  There are conduct rules in place for lawyers to ensure that this potential conflict of interest is properly managed.