Westside Law: Wills Estate Trust Lawyer Notary Public Vancouver BC

The choice of the executor for your Will is an extremely important one because the executor's responsibilities can be quite onerous. He or she will be responsible for arranging the burial of the deceased; obtaining "probate" of the will; collecting the estate; converting the assets into money to pay debts and legacies as necessary; and distributing the estate to the persons entitled to it. The following discussion briefly canvasses the advantages and disadvantages of appointing particular kinds of people to be an executor.

You should note that it is permissible to appoint one of the beneficiaries of your estate as the executor. This is commonly done where the maker of the will appoints his or her spouse or partner as both executor and primary beneficiary. This is often a good idea where the distribution of the estate is simple. However, you may wish to consider whether the executor will have any practical difficulty in administering the estate if he or she is also a beneficiary. For example, if there are other beneficiaries who might be unhappy with their legacy, this might make it difficult for the executor if a challenge to the will is started. This could complicate things for the executor as the executor might be perceived to be in a position of conflict of interest.

Also make sure that you review the witness requirements for a will. You should not use a beneficiary or executor (or a relative of any of them) as a witness to the will.

The following points should give you some issues to think about in respect of picking various people as executor.

a) Spouse

• an appropriate choice if there is a straightforward distribution, particularly if the entire estate is left to the spouse
• if the spouse needs assistance: perhaps appoint a co-executor

b) Children

• if children are adults, a child may be appropriate
• consider whether there are conflicts between children

c) Friends and Business Associates

• the qualities that are the basis for friendship are not necessarily those of a good executor
• business associates may be too busy and may also have a conflict of interest if an interest in the business forms part of the estate

d) Lawyers and Accountants

• estate administration is often time consuming ... are they too busy?
• do they have sufficient knowledge of the beneficiaries and your assets?
• some professionals are well equipped to take on the job, others are not
• may be better to retain a lawyer as the counsel for the estate
• the Will must include a "charging clause" it is intended that the executor be able to charge the estate for professional services

e) Trust Companies

• provide long-term stability for estates where distribution may be delayed; provides honest, skilled personnel
• however, fees may be high; trust companies can be conservative and bureaucratic

f) General Guidelines

• if there is an outright distribution: consider whether a family member or members may be appropriate
• if there are complex long lasting trusts: consider an experienced individual/professional or a trust company
• individual executors should not be too old or have conflicts of interest; consider alternative appointments
• consider whether professionals may be too busy to devote the necessary time
• consider inserting a charging clause to provide for professionals' fees
• consider co-executorships with majority decision making criteria if there may be conflicts