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The Role of Executor

Post by NST In Financial Planning and News On 19 August 1997
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The executor is the person specially chosen to carry out the terms and instructions of your will. The executor oversees and is responsible for the administration of your entire estate, right until all the assets are distributed.

The role of the executor is very important and hence the executor must be chosen with care. He or she must first be willing to take on the responsibilities. The executor must be good in asset management skills and must be honest and reliable so that the funds and assets are not misused or misappropriated.

One can also appoint a trust corporation as an alternative to individual executors. The advantages are it will never be biased towards any particular party, it has perpertual existence and investment management is part of its profession. Also they have full understanding of the intricacies of a Will and has the necessary experience with the courts to deal with matters pertaining to a Grant of Probate.

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Read 2029 times Last modified on Monday, 17 September 2012 18:08
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