Avoid Basic Mistakes When You Choose An Executor

The executor (male) or executrix (female) you choose will carry out the instructions in your will and has the legal authority to make your funeral arrangements.  

Here are some things to consider:

1.  Don't think of naming an executor as an honour.

It's a responsibility.  To be blunt, that person will be signing cheques on your account and will have the right to decide who receives your car or anything else you haven't specifically assigned in your will.  Above all, you need someone trustworthy and impartial.

And you need someone who lives in the same city as you do.

2.  It's not a reward.

If you have a favourite child or special friend, remember them in your will, but if they're not good with money and detail, don't name them as your executor.    

Base your decision NOT on sentimentality, but on trustworthiness, good judgment and common sense. 

3.  Think about someone younger.

Consider reaching across the generation gap for this one.  Remember you can always name your spouse or old friend as a co-executor.  You may also appoint an alternate executor to take on the responsibility of managing your affairs if your first choice cannot.  

The point is you're looking for someone who's most likely to outlive you.

4.  Talk with this person before you name him or her your  executor.

Afterwards, give this person a copy of your will.  If you feel you can't trust your executor with a copy now, how will you able to trust them later? 

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