Having a will is paramount, but choosing the right executor is equally important. This person would administer your wishes stated in your will when you pass away. As this role is crucial, this individual shouldn’t just be trustworthy, but also capable of performing the challenging duties it entails at the time of your death.
Naturally, you’d consider a loved one to act as your will’s executor. After all, who else would you choose to handle your estate when you’re gone but the people closest to your heart. But then again, it’s never a bad idea to get an independent executor for this job.
Here are some sensible reasons why.
In Queensland, experienced attorneys specialising in family law have seen conflicts between the executor and your beneficiaries. Some of your beneficiaries may not agree with what’s stated in your will, putting the executor to blame.
The key is to choose someone with no personal interest in your assets. This way, you can keep the possibility of suspicion to a minimum.
The job of a will executor is more serious than you think. If your will isn’t properly done, your executor would be held accountable. In some cases, the executor may be ordered to personally compensate your beneficiaries for any loss due to certain mistakes.
As much as you want to entrust your will to a loved one, it might be for the best to get someone more capable of administering your assets later on.
Lifting the Burden
Your death would leave your loved ones in grief, so forcing them to take the responsibility to oversee the distribution of your assets may give them extra burden at a time of loss and stress. Instead, naming an independent executor would help let your family cope up with your passing.
No one could overemphasise the responsibility of your executor. In a way, he or she would be your representative when you’re gone. Choose the right one wisely, carefully.