There can be no denying the importance of creating a will, and when appointing a will executor, care should be taken when making your selection.
The executor you appoint will be the person who makes sure that all of the wishes you’ve laid down in your will are carried out. From arranging your funeral to ensuring that your dependents (or even your pets) are cared for appropriately in the event of your passing, their role is significant. As such, the process of appointing a will executor is worthy of careful and honest deliberation.
Just as critical to the planning of an estate, however, is your choice to work with a will executor in Alberta who can help guide you throughout the entire will-making process. Answering all of your questions, putting any concerns you might have to rest, and generally guiding you towards making choices that are in your best interests (and of those you will leave behind), they often prove invaluable during estate planning.
If you’ve started planning your estate and are giving serious thought to the question of who you should appoint to be your will executor, here are some key factors to consider:
- Their trustworthiness
You must be able to implicitly trust the person you appoint and not have any misgivings as to their intentions related to your estate when you die.
- Their ability to carry out the tasks
Record keeping and correspondence go hand-in-hand with being a will executor. Your appointed executor should be diligent in this respect and open to the idea of seeking help from an experienced wills and estate lawyer should the need arise.
- Their willingness to do the necessary work
Being the executor of a will does require a certain degree of commitment, and the appointed individual may need to spend a good portion of their personal time devoted to matters of your estate, particularly if the will is later contested.
- Their location
Non-Canadian residents may not be accepted by the court as executors of a will, and they complicate tax-filing requirements. Ideally, you should choose someone who is living in the same province as you to keep things simple.
- The likelihood of them outliving you
Although nothing is certain in this life, it pays to try and find a will executor who is likely to be around after your death. With this in mind, you should also try to regularly reassess who you have chosen to ensure that they’re still alive, willing and able to fulfil their role when the time comes.
Should you choose a professional executor alongside a family member?
Appointing a professional executor as well as a member of your family can mean that you benefit from the trust of the person you know well while also benefiting from the experience and ability of a professional executor.
It’s also not unheard of for appointed executors to act in a manner that doesn’t respect the wishes as outlined in the will or to make costly errors. Having a professional estate executor oversee the process and be there should your first choice no longer be able or willing to fulfil their role can be hugely advantageous.
There are many different aspects to estate planning and creating a will, most of which can be overwhelming, scary, and confusing. Having a professional estate planner by your side can give you the confidence to make the right decisions and better protect that which you have earned, inherited, or held dear.