What does an executor do? 

An executor is the person you name in your will to ensure your wishes are carried out after your death. Their responsibilities include: 

• Locating assets: Identifying and managing all assets, including bank accounts, property, and physical belongings 

• Contacting beneficiaries: Ensuring everyone named in your will receives their designated inheritance 

• Settling your affairs: Tasks like canceling credit cards, notifying financial institutions, and closing accounts 

• Managing digital assets: Handling online accounts, such as notifying social media platforms or memorializing a Facebook account 

• Paying debts and expenses: Covering bills, mortgage payments, and outstanding debts using funds from your estate 

What power does an executor have?

Executors have the authority to access your financial accounts and documents after your death. However, this power is strictly limited to fulfilling the duties outlined in the will. They must act in the best interests of the estate and its beneficiaries. 

Does the executor have the final say? 

Executors are legally bound to act in accordance with your will. They cannot use estate funds for personal purposes or make decisions outside the scope of the will. Their primary role is to ensure your wishes are followed. 

How to choose an executor for your will? 

Selecting the right executor is crucial. Here are some tips:

• Choose someone you trust: This could be a family member, close friend, or professional advisor. 

• Consider their ability to handle the responsibility: Being an executor involves significant administrative work, so choose someone organized and reliable. 

• Be cautious about choosing a grieving partner: While it’s common to select a spouse or close family member, the responsibilities of executor can be overwhelming during a time of emotional loss. 

How many executors should I appoint? 

You’re only required to name one executor, but appointing at least two is often a better option. This ensures: 

• Shared responsibilities, reducing the burden on one person 

• Legal flexibility: Single executors may face restrictions when managing property, such as selling real estate 

Can an executor also be a beneficiary? 

Yes, beneficiaries can serve as executors, provided they are at least 18 years old. This is a common arrangement and legally permissible. 

Can my lawyer be an executor? 

In certain situations, naming a professional executor, such as an attorney or accountant, may be more appropriate. This is particularly useful for: 

• Situations where family or friends may not want the responsibility of acting as executor 

• Complex estates with numerous assets or legal considerations 

Note: Professional executors charge a fee for their services, which will be paid from your estate. 

By understanding the role and responsibilities of an executor, you can make informed decisions when planning your estate and ensure your wishes are honored after you’re gone.