An executor is someone you name in your will to carry out your wishes after you die
Your executors will handle tasks including organising your finances, settling debts or taxes and ensuring the proper distribution of assets in line with your will. Being an executor is a big responsibility. It can take a lot of time and energy, which could be hard for someone to deal with if they’re already grieving. It's important to think carefully about who you choose.
You should choose up to 4 executors
You can name just one executor in your will, although we always recommend appointing more than one, in case the person you’ve chosen is unable to take on the responsibility when the time comes. You should not appoint more than 4 executors to act together at the same time. When you’re thinking about who to choose, you can pick from the following options:
- Friends or family
- A professional executor
- A combination of both
Choosing friends or family
If you're thinking about choosing friends or family, they’ll need to be over 18, trustworthy, and comfortable with financial matters and paperwork. You can name a beneficiary as an executor – and lots of people do. If your estate is simple, of low value or has few assets, appointing friends or family is often the most cost effective approach. If you do choose friends or family, it’s a good idea to talk to them about it first.
Choosing a professional executor
People choose professional executors for a variety of reasons, for example:
- If the estate is high value or particularly complex
- If friends or family are unable or unwilling to take on the responsibility
- If a professional executor would give extra peace of mind
- If a neutral third party would help avoid family conflict
Sometimes people choose a solicitor for this role, but there are also professional executor services, including Farewill Trustees. As costs for professional executors can vary considerably, it's worth considering your choice carefully.
Choosing Farewill Trustees
Farewill Trustees can take some of the stress from your loved ones, serve as an impartial third-party in case of conflicts, and expedite the probate process.
Choosing Farewill Trustees is not a binding commitment. There’s no charge if we step aside if our services are no longer needed when the time comes. So Farewill Trustees can be a good option for you to choose to appoint as executor of your will.
Choosing a combination of friends, family and a professional executor
It's common for people to engage a professional executor, even if friends or family are co-executors. Combining personal acquaintances with professionals can ensure tasks are efficiently and fairly distributed based on individual strengths.