What are the benefits of naming an executor?
What are the benefits of naming an executor?
There are a number of benefits to naming an executor of your will. An executor is the person who has been assigned the duty of carrying out your wishes in the event of your death. They will be given this responsibility by the person named in a will as the "testator." By naming an executor, you can ensure that someone you trust is working on seeing that your wishes are carried out, instead of leaving it up to the courts and their appointed executors.
The first thing to consider when making this decision is whether you trust someone close to you to carry out your intentions. If so, then it's worth discussing it with him or her and making sure they're comfortable taking on such an important job. It's also worth considering whether you want someone who is not as close to you or who may be unknown to do this job.
One option is to leave a "duly executed copy" of your will with a trusted friend or family member while leaving another copy at home, which can be retrieved by any relative after your death if necessary (you'll want to make sure at least one copy remains in a safe place). Another option is to name two people as co-executors—this way, no matter what happens, there's always someone
Naming an executor is one of the most important decisions you can make when writing a will. It's also one of the most complex, as it involves weighing all sorts of factors—from which family member has the time and energy to take on responsibility to what type of assets you want to leave your beneficiaries with.
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Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.