Choose the right executor

Choose 2

Choose 2The person you choose as executor of your estate can either make it go smoothly or make it incredibly difficult, and expensive. Choosing a person who is in serious debt, or has addictions, or doesn’t get along with any of the other beneficiaries, or wants to please everyone and so might bend the rules – these are all bad ideas. Choosing all four of your children or keeping in a child who lives outside of Canada because you don’t want to hurt anyone’s feelings is also a bad idea. It’s also important to think about how complex your estate could be. If it is going to be incredibly complicated, it might be worth paying for a corporate executor, such as a bank or trust company.

The best plan is to keep an open mind, and have a frank discussion with your lawyer before making a final choice. Having a bad executor can be a terrible thing.