This may seem like a simple step, and you may have always had a very clear idea about who you want to be in charge of your assets, and the distribution of them when you’re not around. However, if you know anything about the responsibilities that the executors will have, you might think more carefully about your choice! (they will do much more than simply give out your assets to those you have chosen to leave them to)

So to make the decision a little easier we’ve put together some key points to consider when making this choice…

  1. It is recommended to choose at least 2 or 3 people to appoint as the executors, and do not neglect appointing substitutes! (you can never predict the future)
  2. Age does matter, perhaps not in every scenario, but in this case you will definitely want to appoint people who are likely to survive you!
  3. Capability is also key! If you appoint an older family member as one of the executors, how can you be sure they will have the mental capacity for the role when it comes to it, and if they don’t, do they know who to ask for help?
  4. Awkward assets can cause problems, it can be a difficult decision for the executors to decide how to divide these up between the family members, or people you have chosen to leave them to. In these scenarios an independent executor can be just what is needed to objectively solve these issues, even though in an ideal world you may have wanted to leave these tasks to a family member or a friend.

These are the hard questions and considerations that you will need to figure out! Executors have a lot of responsibilities including; registering the death, arranging the funeral, paying the inheritance tax, distributing the estate, and keeping estate accounts, just to name a few! I’m sure you can now appreciate the importance of picking the right people that ideally know what they are doing, or know where to go to find out!

If you would like to talk to someone about choosing your own executors, or you have been appointed as an executor and want to know more about your role, please do not hesitate to contact us and a member of our approachable team will be happy to speak with you!

Kleyman & Co Solicitors! The full service law firm! Always forward thinking!