One of the most important parts of creating a will is to choose an executor. This is a decision that shouldn’t be made lightly so here’s some tips on how to choose the right person to be the executor of your will.

What is an executor?

Before you choose an executor, it’s important to understand what an executor is. 

The Queensland Government defines an executor as “the person responsible for administering an estate as wished by the person who passed away, through their will and the Succession Act 1981.”

What is the role of an executor?

When you choose an executor, you may want to consider what the role entails first. Each situation is unique, but the role may entail some or all of the following:

• Organising the funeral

• Obtaining probate from the supreme court if required

• Finding and notifying beneficiaries (those named in the will to receive something from the estate)

• Locate, value and protect the assets of the deceased

• Confirm insurance of the assets

• Determine and clear debts and liabilities

• Prepare tax returns and get income tax clearance

• Transfer or sale of assets

• Prepare financial statements

• Distribute the estate 

• Defend the will against any legal challenges or contest

As you can see, there may be a bit of work involved so you need to choose an executor who will fulfil their duty and ensure that your wishes are upheld.

What if the executor I choose doesn’t want the responsibility?

An executor is able to renounce their duty formally and appoint a state trustee to act in their place which is not an ideal situation as that person is likely to be a complete stranger to you. For this reason, it’s important that you have a conversation with the person you choose to be your executor to ensure they are willing to take on the responsibility.

It’s important to note that if an executor takes any action at all, that is considered acceptance of their role and it becomes difficult for them to renounce their duty.

How many executors can I have?

You can nominate as many executors as you like for your will, however, the Supreme Court will only grant probate to a maximum of 4 people at one time. These 4 people will be the first ones listed in the will.

It can be a good idea to have more than one executor to share the duties and/or in case one is unable or unwilling to fulfill their duty.

It’s also worth keeping in mind that the more executors you have, the more difficult it may be for them to agree when it comes to making decisions.

What if I don’t know anyone that would be a suitable executor?

If you cannot find a friend or family member suitable for the role of executor, there are professionals who offer executor services. These services will incur fees which can be written into your will to ensure they are paid accordingly from the estate.

Does an executor get paid?

It is reasonable for an executor to be reimbursed for any expenses incurred while fulfilling their duty in the role. It is also possible for you to include a gift to the executor from the estate in your will or your beneficiaries may choose to reward the executor after the estate has been divided. 

As mentioned above, if you choose a professional to be your executor, their fees will be paid out of the estate.

What qualities should an executor have?

When you choose an executor, you may like to consider someone who has the following qualities to ensure that they are up to the role:

• Responsible

• Financially stable

• Organised

• Younger than you

• Drama-free

• Honest

• No criminal history

• Patient

• Emotionally grounded

• Strong-willed

• Good with paperwork

All of these qualities are things that may assist them in the role of executor and will give you peace of mind that you’ve chosen the right executor for your will.

Conclusion

As you can see, there are a few things to consider in order to choose the right person for the role and just how important it is to choose wisely.

Now you know why and how to choose an executor, you may be ready to start preparing your will. 

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