The executor deals directly with your estate; he or she pays your debts and
divides what remains of your estate among the "beneficiaries", the people
named in your Will to receive a share of your estate. The executor has an
important and responsible job to do.
Speaking generally:
1. An executor must answer to the beneficiaries for his or her management of
the estate and account for the property (including all money) of the deceased.
2. He or she must organise your funeral and burial, as well as making decisions
about your personal belongings and property.
3. It is also their job to deal with your finances, such as paying your debts,
closing your bank accounts and doing your taxes in the year of your death, and
the year following your death for your estate.
4. Finally, if there are children under 18, their well-being must be looked after.
You should choose an executor that you trust and who is likely to still be alive
when you die. He or she may be a trusted family member or friend. It helps if
he or she is a good book-keeper and an efficient communicator. If you prefer,
you can appoint more than one executor and both can act together as co-
executors. You should also appoint an alternate executor if the first executor
is not able to act. If you have a complex estate or investments or need
someone to take over the operation of a company, you should name a
professional executor.
