5 tips for choosing the right Executor

1. The age and health of your executors.

You should consider choosing executors that are younger than you and in good health as   after all you want them to be alive when you die! 

2. How many executors you should have.

Many people choose their partner in the first instance to be their only executor, but you should always consider having a second as a backup.  So that if you and your partner die at the same time you have the backup person named. Also think carefully about having your children as the only executors as sometimes it can cause conflict when they are also the beneficiaries of your Will.

3. Where your executors live and how available they are.

When you die your executors are going to be required to sign lots of paperwork on behalf of your estate over the next one to two years.  Therefore, where possible it is better to choose executors that live close to where you live and in New Zealand.

4.How your executor will cope in the role of executor.

The role of executor brings with it responsibilities and liabilities.  They need to be an organized, levelheaded, trustworthy person capable of handling financial and legal matters and who is prepared to step up to the role to meet their legal obligations. 

5.Should you have a professional executor?

A professional trustee might be a solicitor or a trustee company such as Public Trust.  Professional executors may be paid for their services whereas other executors can only claim legitimate expenses. It is often useful to have a professional executor if the other executors are also beneficiaries to ensure that impartial decisions are made by the executors and not favoring an executor who is also a beneficiary of the Will.