How to choose an executor

What an executor does

Your executor (called a liquidator in Québec, and an estate trustee in Ontario) carries out the instructions in your will. The Government of Canada notes that the role can take quite a bit of time and involve a lot of paperwork. Typical tasks include:

• finding the original will and, if needed, applying for probate;
• making an inventory of what you owned and owed;
• closing accounts, cancelling services, and keeping property safe and insured;
• paying debts and expenses, and filing your final tax returns;
• distributing what's left to your beneficiaries, and keeping records of everything.

The qualities that matter

• Trustworthy and fair. They'll handle money for other people, sometimes including family members with strong feelings.
• Organized. Deadlines, forms and records matter more than financial expertise; professionals can be hired for the rest.
• Available and willing. Someone with the time and the will to do it.
• Practical location. An executor can usually live elsewhere, but living far away, especially outside Canada, can make the job slower and, in some provinces, may require extra steps such as a bond. Check your province's rules before naming someone abroad.
• Old enough. They must be an adult when they act.

One executor or two?

One executor keeps things simple. Two can share the work and offer a check on each other, which some families find reassuring, but they must then cooperate, and disagreements can slow everything down. If you name two, think about whether they must act together or may each act alone, and say so in your will.

Always name a backup

Your first choice might die before you, become unable to act, or decline when the time comes. Naming an alternate executor avoids a court having to appoint someone. It's one of the simplest ways to make your will more robust.

Family member, friend or professional?

Most people name a spouse, an adult child or a close friend. A trust company or other professional executor can make sense for a complex estate, when there's likely conflict, or when no one suitable is available. Professionals charge fees, usually set by agreement or by a percentage of the estate, so compare options before deciding. An individual executor can also hire lawyers and accountants to help, paid from the estate.

Can an executor also be a beneficiary?

Yes. It's common for an executor to also inherit under the will, for example a spouse or adult child. Their job is still to act fairly for all beneficiaries. (Witnesses are different: choose witnesses who don't inherit anything under your will.)

Ask first, then tell them where everything is

Ask the person before naming them, and explain what you're asking. Then make their job easier: tell them where your original will is kept, keep a list of your accounts, assets and debts, and keep it up to date. VeeWill's Vault can hold that list and private notes for the people you choose, and our free Check-in can let your executors know you have a will if you stop signing in.