Everyone thinks about writing a will eventually.
However, almost no one thinks about who they want to serve in that role. That is a major issue, because your will is only as good as the individual you pick to execute it. Selecting a will executor is the silent decision that determines how your entire estate will unfold.
Get this decision right and everything runs smoothly.
Get it wrong and things get messy fast…
Here’s what’s coming up:
- Why Choosing A Will Executor Matters More Than People Think
- What A Will Executor Actually Does
- Traits Of A Great Will Executor
- Common Mistakes When Choosing A Will Executor
- How To Make The Right Choice
Why Choosing A Will Executor Matters More Than People Think
Let’s start with a wake-up call…
Statistics compiled by NSW Trustee and Guardian in 20 23 revealed that 60 per cent of people in NSW die without a legal Will. That means nearly two-thirds of adults are allowing strangers to make significant life choices on their behalf. When people DO make a will, many folks don’t take enough time researching who should be appointed executor.
Here’s why this matters:
Australia is on the forefront of the largest wealth transfer ever recorded. Just 42 per cent of Australians are confident they have an up-to-date will that suits their needs. With trillions of dollars of wealth ready to transfer, making sure you know how to write a will and get the legalities sorted first is paramount. Once that’s done, you can think about who you want to appoint.
The bottom line?
Selecting an executor for your will is one of the most important decisions you’ll make as an adult. It impacts your loved ones, your money, and how smoothly your estate is tied up.
What A Will Executor Actually Does
Most people have a vague idea that an executor “sorts stuff out”…
There’s more to it than that. The executor is legally in charge of your world when you die. They step up, take control of your estate, and see things through.
It’s not for show. It has deadlines and legal implications.
Here are the main tasks a will executor handles:
- Locating the will and applying for probate
- Notifying banks, super funds, and insurers
- Paying off any debts and outstanding taxes
- Protecting the estate’s assets
- Distributing what’s left to the beneficiaries
- Handling disputes if family disagreements pop up
It’s not a hobby for the weekend. Depending on the size and complexity of the estate, the process can take many months — even years. Remember, executors have a fiduciary responsibility and may be held personally liable for their actions.
Disclaimer: Yes, in Australia this also includes interstate property/dealing with digital assets/business interests etc. It quickly becomes a headache.
Traits Of A Great Will Executor
Not everyone is cut out for this role.
Naming your executor because you have the biggest soft spot for them is easy. Just because you love someone doesn’t mean they’re organised. Just because someone’s family doesn’t mean they’ll be impartial.
The best executor is someone who ticks a few very specific boxes…
They’re Organised
An executor juggles paperwork, deadlines and dozens of details. A slovenly person will drop the ball. A meticulous person won’t.
They’re Impartial
Money can ruin relationships within families. Applications to dispute wills grew by 25% in the last decade. It’s estimated that 10% of Australian wills get contested. Having an executor who shows favouritism will not help.
They’re Financially Literate
Estates file taxes, have asset valuations and may face difficult investment decisions. An estate representative need not be an accountant, but should have a firm grasp of financial concepts.
They’re Willing To Do It
This happens more than you’d think. Someone is named as executor without even asking them if they’d do it. Wrong move. It’s a very time consuming, stressful and emotional job. Make sure they agree to it before putting them in your will.
They’re Local
You can have an executor based overseas but there will be a lot of paperwork to deal with in Australia. It makes things easier for everyone if you choose a local executor.
Common Mistakes When Choosing A Will Executor
Here’s where a lot of people slip up…
Choosing a spouse who is the same age (or younger). They die before you or within months of each other and your estate is left without an executor. Always have a plan B.
Naming multiple executors who won’t get along. Co-executors can function effectively — IF they are able to actually cooperate. Otherwise it’s a train wreck in slow motion.
Selecting according to family ranking. Just because someone is the oldest child doesn’t make them the correct choice. Choose the most competent person available.
Pass over the professional option. If you have a complicated estate or an emotionally-charged family, you may want to consider the professional executor option (trustee company or lawyer). Yes, it will cost you money but at least it comes without emotions.
Not updating the choice. Life evolves. People evolve. The executor you chose 15 years ago may not be your choice now.
How To Make The Right Choice
Ready to pick your executor? Follow these 5x steps…
- Make a shortlist. Write down 2–3 people you’d trust with the role.
- Have the conversation. Ask them if they would be willing to serve. Tell them what it entails.
- Pick a backup. Life is unpredictable — always name a second choice.
- Use a professional. If your estate is large or complicated, a solicitor or trustee company may trump anyone in the family.
- Review every few years. Especially after marriage, divorce, kids, or major financial changes.
Having decided, inform them of where the will is located and provide them with a general overview of your assets. An executor should not have to dig through your drawer searching for paperwork when you pass.
Bringing It All Together
Selecting an executor for your will is one of those silent adulting items that never seems pressing — until it does.
It’s not morbid. It’s being considerate to those you care about. A good executor makes a painful, expensive ordeal bearable. A bad executor turns it into a court battle.
Quick recap:
- Pick someone organised, impartial, and financially aware
- Always ask them first before naming them
- Name a backup executor just in case
- For complex estates, consider a professional
- Review your choice every few years
If you get it right, your family will be grateful. Get it wrong and you’ve created another issue they have to deal with while grieving.
The good news?
Selecting an executor of your will is entirely up to you. It’s also quick, and worth every minute considering how much time it saves later.
