Choosing the right executor is critical.
An executor should be someone you know and trust, and who you are confident will be able to effect your will in a timely, efficient and uncontroversial manner.
An executor is not obliged to accept appointment and can simply decline without giving reasons, therefore, before an executor is appointed, he or she should be consulted.
A back-up executor should always be appointed in case the initially appointed executor is not able to act as a result of death or incapacity.
It should go without saying that when choosing an executor consideration should be given to the executor’s relationship with the beneficiaries and in certain circumstances, it may be appropriate to appoint an entirely independent person (such as a solicitor or accountant) who is able to make decisions objectively and free from emotion.
If planning to appoint your own children as executors, consideration should be given to the relationship between them.
In certain cases, it may be appropriate to appoint an independent person rather than choosing some but not all of the children, which may well give rise to resentment on the part of any child who is left out.
Being an executor can be very demanding, in both a practical and emotional sense.
The person appointed must be appropriately equipped to deal with whatever may arise, including the prospect of stressful and protracted litigation which unfortunately does occur from time to time.
Visit Geoff Lyons Solicitors at glyons.com.au for more advice.