Executors and Probate

What is an Executor?
An executor is the person named in a will to look after the property of a person after his/her death. The executor is in charge of winding up the deceased’s financial affairs, which means taking care of the property, paying all the bills and making sure that assets set down for transfer to various people are finally transferred to their rightful owners.

Who is Best Suited as an Executor?
An executor does not necessarily have to be an accountant, lawyer or anyone with special financial or legal knowledge. A good executor is someone who displays common sense and honesty in dealing with the affairs of the deceased. The executor can hire accountants or lawyers, or other professionals, to assist where necessary.

If you are looking at choosing an executor, make sure the person is honest, has good organisation skills and is preferably someone who is familiar with your financial affairs, as well as members of the family and other beneficiaries. If the executor is a member of the family or known to...

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