What should you consider when choosing an executor
An executor is a person or company named in your will to carry out (“execute”) your wishes and distribute your estate when you die. The role of the executor is to gather up your assets, pay your debts, and divide what remains of your estate among the beneficiaries.
The most important consideration when deciding on your executor is to pick the person that you trust and is capable of doing it. They may be a trusted family member or friend. Often, people appoint their spouse, but if you are in the same age bracket, an adult child may be better to ensure the executor is alive when you die. It helps if they are well organized, good at keeping records, and good communicators. Your executor will need to have the time as well as the skills and expertise to deal with many parties, including lawyers, accountants, financial institutions, insurance companies, government agencies and beneficiaries.
April 9 to 15 is make a will week in BC and we would be happy to assist with your will.
For more information, contact Nelson Selamaj at Pearce Schneiderat 250-492-0907.