Choosing an Executor: Should You Appoint a Professional?

An important part of the will-writing process is choosing someone to be the executor– the person who is responsible for administering the estate and distributing the estate’s assets. There can be a number of different factors that go into the process of choosing an executor. The job of an executor is typically not a simple one – it can involve a handful of different tasks as they prepare the estate for distribution to the beneficiaries named in the will. In some cases, it’s in the best interests of the will-writer and their family to appoint a professional to be the estate executor.

Will-writers who want a truly neutral party to act as their executor can appoint a lawyer, accountant, or corporate trustee. While this will cost more than naming a close friend or family member, it ensures professional administration of the estate. There can be many different reasons why will-writers think it is necessary to appoint a professional estate executor.

Complex Estate

Executors are ultimately responsible with managing all aspects of the estate administration. Executors are responsible for accounting for all of the estate assets, paying any unpaid debts the testator owes, managing estate assets for distribution, and locating all the beneficiaries of the will. The executor’s job can become very complicated if the estate has assets scattered around the world, beneficiaries living in other jurisdictions, or a number of debts to pay. The pressure can also become overwhelming, as executors can face personal liability for mistakes that harm beneficiaries.

If at all, many people only serve as an estate executor once or twice in their life, which means they have minimal experience. By hiring a professional, you can be certain they know exactly what they’re doing. As the will-writer, you can be assured that the administration will go smoothly and none of your loved ones will be burdened by this duty. Further, a professional executor can help to defuse family conflicts that might arise as a result of the administration.

Family Politics

Often when family estate disputes happen it is due to the actions of the executor or the will-writer. As a will-writer, you can foresee and mitigate family conflict with proper estate planning. If a third-party professional administers your estate, you can mitigate family issues that arise from the estate. You can presume that the professional will act objectively, doing what is right for the beneficiaries and the estate. The professional will have nothing to gain by acting in the favour of certain family members.

Nobody Suitable

Often, people appoint a professional executor simply because they do not have any other suitable person to appoint. While people typically choose close family to be their executor, sometimes this isn’t an option. Maybe there is no one who you can trust to act objectively, there is no one physically or mentally able to handle the role, or you’re simply afraid nobody will carry out the terms of your estate exactly as you wish. Generally speaking, you will never want to appoint an executor who lives in a different country from where the majority of your estate assets are. The executor will need to be physically present for many of the executor’s duties.

Can’t Decide? Name Multiple Executors

Often, will-writers wish for their executors to have the objectivity and experience of a professional, but also personal knowledge and relationships of their family. Even though there isn’t usually one person who exhibits all of these traits, will-writers are able to name multiple executors in their will (co-executors). This can be a good idea in some cases as it eases the workload of the executor, however, co-executors must agree to all decisions made on behalf of the estate. It is common for parents to name all of their children as co-executors for their estate in the interest of fairness. In naming a professional and a family member as co-executors, the family member can handle most of the estate affairs with the professional assisting when needed and ensuring that the estate administration is done properly and efficiently.

If you think that a professional executor is unnecessary in your scenario, it’s still important to appoint the right person to be your executor. Different family members might be better suited for the job based on their physical location, personality and/or willingness to do the job. For more information, read our blog on choosing the right executor for your estate administration.

Ultimately, it’s up to the will-writer to choose who their executor should be. If you’re unsure if you should appoint a professional to be your executor, contact an experienced estate lawyer today. We can help you to pick someone who will properly administer your estate.

Have a question about this topic or a different legal topic? Contact us for a free consultation. Reach us via phone at 250-888-0002, or via email at info@leaguelaw.com.