When making a will, one of the most important decisions you’ll make is choosing an executor—the person or team responsible for carrying out your wishes after you’re gone. While it might be tempting to pick a close family member or friend, there are a few key things to think about to ensure your estate is handled smoothly and fairly. Here’s a simple guide to help you choose the right executor.What Does an Executor Do?An executor steps into your shoes after you pass away. Their job is to manage your assets, pay any debts, file taxes, and distribute what’s left to your loved ones according to your will. It’s a big responsibility that requires organization, fairness, and some know-how. Choosing the right person or team can make all the difference.Key Factors to Consider
- Skills and Expertise
Being an executor involves more than just following instructions. They need to: - Understand finances, taxes, and estate laws.
- Handle tasks like creating an inventory of your assets, filing tax returns, paying estate duties, and managing bank accounts.
- Stay organized, meet deadlines, and communicate with government offices like SARS and the Master’s Office.
If your favorite aunt or best friend doesn’t have these skills, they might struggle. You could consider naming a trusted family member alongside a professional, like a lawyer or fiduciary expert, to share the load. This way, you combine personal trust with professional know-how.
- People Skills
An executor will deal with your family, heirs, creditors, and others. Family dynamics can get tricky, especially when emotions are high. Your executor needs to: - Stay neutral and fair, even if there’s tension.
- Communicate clearly and sensitively with everyone involved.
- Make tough decisions, like selling assets, without favoritism.
Think about whether your chosen person can handle these situations calmly and objectively.
- Professional Help
You can name a family member or friend as your executor, but the Master of the High Court must approve them. If they don’t think your choice is qualified, they might require a professional (like an attorney) to assist. This could mean a stranger ends up handling most of the work, which might not be what you want. To avoid this, you could appoint a professional firm or a co-executor with expertise to ensure everything is done right. - Where They Live
If your executor lives outside South Africa, it can slow things down and add costs. The Master’s Office might ask them to provide a bond of security (a kind of financial guarantee), and notarizing foreign documents can get expensive. It’s usually better to choose someone based in South Africa to keep things simple. - Family Members or Beneficiaries as Executors
You can name someone who will inherit from your will as your executor, but this can create problems. For example: - If your spouse is the executor but your children from a previous marriage make claims, it could put them in a tough spot.
- Grief might make it hard for a close family member to focus on the job.
Consider choosing someone who isn’t a beneficiary to keep things fair and less emotional.
- Costs
Executors are entitled to a fee, set by law at up to 3.5% (plus VAT) of your estate’s value, plus 6% of any income collected after your death. These fees apply whether you choose a friend or a professional. You can try to negotiate a lower fee in your will, but if a professional is brought in to help an unqualified executor, the fee might be split, which could slow things down. Be clear about costs when making your choice. - Age and Health
Think about the age and health of your executor. Some tasks, like visiting SARS or the Master’s Office, require physical effort. Also, if you name one person, there’s a chance they could pass away before you. To be safe, consider naming a backup executor or a professional firm that will always be available. - Multiple Executors
Naming more than one executor might seem like a good idea, but it can complicate things. They might disagree on decisions, and coordinating schedules for tasks like signing documents can be tricky. If one executor is also a beneficiary, others might worry about bias. Keep it simple by choosing one trusted person or a professional team.
Review Your Choice RegularlyLife changes—people move, relationships shift, or health declines. Check your will every few years to make sure your executor is still the right fit. If they’ve moved abroad or their situation has changed, you might need to update your will.Final ThoughtsChoosing an executor is about finding someone you trust who can handle a big job with care and skill. While a loved one might feel like the natural choice, make sure they have the ability to manage the tasks or consider pairing them with a professional. By thinking through these factors, you can help ensure your wishes are carried out smoothly, giving you peace of mind.