When we visit clients, one of the most common questions we hear is, “Who should be the executor of my estate?” It’s a critical question that everyone should consider when putting together their Will. Being an executor can be difficult at times, so choosing the right person or people will ensure that there are no future issues.

What does an executor do?

The simplest answer is that executors determine what the deceased person owned and owed at the time of death, obtain a Grant of Probate (if necessary), gather assets, pay debts and expenses, and then distribute according to the terms of the Will.

The longer answer is that these responsibilities could include:

• Locating all of your financial documents.
• Sending a copy of your death certificate to all financial institutions and ensuring that your accounts are frozen.
• Establishing a bank account for the estate.
• Learning about any money owed to you or the estate.
• Learning about any money you owed to others.
• Collecting all money owed, including bank accounts, savings, pensions, investments, insurance policies, and any other assets.
• Make a list of all your belongings, property, and money.
• Calculating and paying income tax, capital gains tax, and inheritance tax.
• Other money owed, such as bills, loans, credit cards, and debts, must be paid.
• Choosing the best time to sell your home so that the beneficiaries receive the most money.
• Paying any outstanding debts or expenses, such as solicitors’ and probate fees.
• Distributing any remaining funds to your beneficiaries in accordance with your Will.

As you can see, it is a large task that will usually take several months to complete.

Who can be an executor?

Anyone over the age of 18, who is not bankrupt and has no criminal convictions, can be an executor, and there is no rule against beneficiaries acting as executors. In fact, many people name their spouse, civil partner, or children as executors.

You don’t have to choose just one; you can appoint up to four executors, but keep in mind that they must act jointly, so appointing too many people may be impractical. It’s a good idea to appoint two executors in case one of them passes away before you. You can also include substitute executors who can take over if the other executors are unwilling or unable to do so.

Who would be an appropriate Executor of a Will?

Now that the basics of who can be an executor have been covered, it’s time to consider who would make a good executor. They will be dealing with a lot of paperwork and legal or financial issues, so it makes sense to hire someone who can handle those responsibilities. You can choose executors with different skills, such as one with legal and financial knowledge and another who can deal with your beneficiaries and notify institutions, dividing the workload.

However, if you do appoint more than one executor, consider whether they will be able to work together to avoid disagreements that will cause grief and conflict within the family.

Before naming your executors, make sure you’ve spoken with them first to ensure they’re willing to take on the responsibility.

Family Members As Executors

It’s a good idea to appoint a family member who you trust and who has the necessary skills for the job. People frequently choose a child, niece or nephew, or grandchild to do the job. If you want to name your partner as executor, keep in mind that they will be dealing with grief and may not be in the best position to take on the additional responsibility. That burden will be lifted by appointing another family member. If you want them to be involved in the process, you can still appoint them alongside another executor.

Appoint a professional to help

Another option is to hire a professional, such as a solicitor, to work alongside a family member. It’s a wise choice because they have specialised knowledge and are familiar with the job, and they can assist in resolving issues quickly and professionally. This is especially important if you have a complex estate or property in another country. Another advantage of hiring a professional is that they can act impartially, reducing conflict among family members.

Do not forget to provide the full names, addresses, and contact information for the executors, and to keep these facts up to date so that they may be quickly located if needed.

What if an executor decides not to participate?

If an executor decides they are unable to handle the estate on their own, they can hire a solicitor to help them. If they do not want to take on the role entirely, they can renounce probate, but only if they have not previously been involved in the administration. In this case, either the remaining executors or a substitute executor can continue the job. If no Executors are available, beneficiaries can act as administrators.

Executors are personally liable

You should keep in mind that taking on the role of executor entails personal liability. Only after all debts, expenses, and taxes have been paid should an executor hand over estate assets. This includes completing tax returns and ensuring that all information is correct; otherwise, they will be responsible for paying the bill. In a recent case, an executor handed over a significant portion of the estate assets on the assumption that the beneficiary would pay the outstanding inheritance tax, which they did not. As a result, the executor was responsible for settling the amount, which exceeded £340,000, with HMRC. This is an unusual case, but it emphasises the importance of appointing someone or people you trust and who understand their responsibilities. Appointing a professional will help you avoid conflicts like this by properly advising your executors.

What if I don’t have anyone who can serve as an executor?

If you do not have anyone who can act as an executor, a government official known as the Public Trustee will be your executor. This situation could arise if your will leaves everything to one person who is unable to act as executor, such as a child or an adult with a disability who is unable to manage financial affairs. However, this is a last resort solution that is only available in very specific circumstances. The fees for using a Public Trustee will be deducted from the final estate and may be higher than those charged by a solicitor.