What Should You Consider When Appointing Executors?

When you make a Will, there are a number of important decisions to consider. Typically, people might give a great deal of thought to issues such as who they would wish to take on guardianship of their children, or who they would want to inherit specific assets. 

Though these are certainly important decisions that necessitate a great deal of thought, in the wake of such big concerns, some people overlook the importance of who to appoint as their executors. 

The role of executor involves a lot of responsibility. When you appoint someone to take on this role, you are putting a great deal of trust in them. 

An executor will need to:

• Assess and evaluate all your financial affairs.
• Cover all your unpaid bills and debts.
• Call in any money that is owed to you.
• Ensure that your wishes as to how your estate is dealt with and distributed are carried out, and make their own judgements on how to do this.
• Potentially act as a trustee for any trusts that have been written into your Will.
• Manage all communications with your beneficiaries and family members, some of which could be difficult.
• Play a major role in any potential disputes or legal challenges related to your estate.

What are the legal requirements for choosing an executor?

Considering what an important role an executor is, there are actually relatively few legal requirements involved in the process of appointing one. An executor simply needs to be over the age of eighteen at the time of your death, and to have the necessary mental capacity to carry out the role. 

If you appoint someone to act as your executor, there are no restrictions on whether or not they can also inherit from your Will. This means that you can appoint someone as an executor and also name that same person as a beneficiary. 

More practically, it’s important to keep in mind that some types of estate are a great deal more complicated than others. If you have a complex estate that includes assets overseas or is at a high risk of being subject to a dispute, it’s wise to take even more care over choosing your executors. In situations like these, appointing a professional executor – such as your solicitor – may well be the better option. 

What skillset does a good executor need?

When you’re considering who to appoint as your executor, you might find it helpful to consider the scope of the role you are asking them to take on, and what kind of skillset would be best suited for it. 

Ideally, you are looking for someone who is:

• Highly organised with good attention to detail.
• Financially literate and won’t be daunted by dealing with debts, unpaid bills and the sale of assets. 
• Experienced in filling in official forms and dealing with formal correspondence.
• Trustworthy and fair, and who knows you well enough to understand the rationale behind the decisions you’ve made. 
• Willing to seek out and take on expert advice where necessary.

Should you appoint your closest family members?

People often appoint their closest family members as their executors – such as their spouse, parents, siblings or adult children. There are clear benefits to doing this: you’re likely to trust these individuals and feel that you can rely on them to carry out your wishes. They’re also likely to have a good understanding of the workings of your financial affairs and what to expect from your estate.

However, in simply appointing your closest family members to act as your executors, you may be missing out a very crucial factor: how able (or even willing) they are to carry out the role. Once again, the role of an executor is a complex one that comes with a great deal of responsibility. If any mistakes are made, executors can find themselves financially responsible. Not everyone has the skillset or personality type to manage a job like this, and you might decide that it’s more of a kindness not to subject your loved ones to such a big task! 

This is perhaps especially important to consider if you have a particularly complicated estate (for example, if you own assets overseas), or if you have any reason to suspect that there may be any disagreements after your death. In situations like these, it may be important to consider whether a more neutral individual might be a better choice. This could be a professional executor such as a solicitor, or just simply someone with a bit more distance, such as a close friend. 

Do you need to appoint back-up executors?

It’s possible to appoint as many executors as you wish, but only a maximum of four executors can act together on winding up an estate at any one time. We’d advise either appointing a few executors to work together or, alternatively, that you appoint back-up executors. These back-up executors would be able to step in on behalf of your estate should the first executor(s) be unable or unwilling to take on the role.

There are all kinds of reasons why an executor might not be able to act, even if you got their agreement at the time of making your Will. Personal circumstances change, and it may be that your chosen executor is not in a position to give your estate their attention when the time comes. 

There’s also the possibility that the person you have appointed as an executor might have died before you, or that they might die soon after. They would also not be able to act if they were judged to no longer have sufficient mental capacity to do so, perhaps due to a condition such as dementia or Alzheimer’s disease. 

Who can you speak to about this?

If you’re not sure who to appoint as your executors, we’d recommend speaking to those individuals closest to you to see whether they might feel able to take on the role. It can also be really beneficial to explore your options with an experienced probate solicitor, as they will be able to advise you on exactly what will be expected from your executor and the skills that will be beneficial for them to have. 

If you’d like to explore your options – including whether appointing a professional executor might be the right choice for you – why not book a free discovery call?

FAQs

Why is it so important to make the right choice about who to appoint as an executor?

Who you choose as an executor is important, as they will be responsible for taking on the role of winding up your estate and distributing it as per the wishes you set out in your Will. Not only does this involve a great deal of responsibility, you also need to trust them to do exactly as you have asked. 

What are the legal requirements for who can be appointed as an executor?

There are very few legal requirements in the UK for who you can appoint as your executor. The individual in question simply needs to be over the age of eighteen at the time of your death and to possess the mental capacity to carry out the role.

Why might you need to appoint a back-up executor?

It is often wise to appoint a back-up executor in your Will, as the back-up will be able to step in to act on your behalf should your primary executor be unable or unwilling to act. There are all sorts of reasons why this might be necessity, whether your primary executor might die before you, or simply because they might not be in a position to take on such a large responsibility at the time of your death. 

Do you have to appoint your closest family members as your executors?

Many people choose to appoint their closest family members to act as their executors, but there is no requirement to do this. You may decide that a friend or even a professional would be more suitable for the role.