How to choose an executor for your estate

Part of the process of creating a will is deciding who will be the executor.

As I have quickly learned figuring out who this person should be is no easy feat. This person will have a significant and time-intensive role, gathering my assets, paying my debts and dividing what remains to my beneficiaries.

There are nit-picky things too, like canceling credit cards and subscriptions and closing accounts.  It can also be emotional, perhaps beginning with funeral arrangements. Here's a detailed description of the role.

"A lot of people feel that choosing an executor is bestowing an honour or it is something that should be given to the eldest child or used to make someone feel better,” said Shawn Pudsey, a Huntsville-based lawyer. “In reality, it is best to look at it like a job, and not a fun one. The primary consideration when making this decision is who would be best for the role.”

Other considerations  include:

Does this person want  it? : Before you decide on someone, reach out to that individual and determine if they are comfortable with the role, and whether or not they would be able willing to fulfill the duties in its entirety.

Understanding what's involved: It may be a good idea, according to Pudsey, to bring your proposed executor with you to meet with a lawyer to fully understand what is involved before they sign on.

Have a back-up: To be safe, name a back-up executor in case the person you choose dies or cannot fulfill the duties for some reason. This will save you the headache of re-creating your will.

Also read:

Why do I need a lawyer to help with a will?

What are some estate costs after I die?