February 2022

Not many people have spent enough time considering whether the executors they’ve selected have the right skill set and are age appropriate!

Consider replacing executors from your generation and moving to the next generation. I suspect that by the time your estate needs an executor, other than your spouse, people from your generation will either not be capable of acting, or not want to act, as executors.

Some of the characteristics I’d look for when selecting executors are whether they’re trustworthy and honest, organized and responsible, discreet and have sufficient time.

Avoid people who would have a conflict of interest. Get professional advice before appointing a non-resident executor. Don’t appoint too many executors. Evaluate the skills needed. Consider family dynamics. Choose an alternate executor. Don’t rule out a corporate executor e.g. a bank. Check the people you select will accept the role.

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