Selecting an Executor

The Executor of a Will is the person appointed to take care of the affairs of the estate on death. They are responsible for the collection of all assets, payment of any debts, and distribution of the estate in accordance with the Will.

It is imperative that the person chosen as Executor is completely reliable and honest and has a reasonable commercial sense.

For example, if property is left to a person under 18 years of age, the Executor is Trustee of that property until the child turns 18. The Trust Act places obligations upon the Trustee to invest property in certain circumstances and it is often appropriate to seek the advice of professional persons such as Accountants and Solicitors.

Up to four Executors may be appointed under a Will and it is also usual for a Testator (the person making the Will) to appoint a further Executor should the original Executor die before the Testator.

For more information contact us.