One of the most important decisions you’ll make when preparing your Will is choosing your executor. This person will be responsible for carrying out the instructions in your Will, managing your estate, and ensuring that your final wishes are respected. It’s a role that requires trust, responsibility, and attention to detail. Here's what to consider when deciding who should take on this vital task.

1. Trustworthiness is Key

Your executor will have access to your financial records, assets, and personal information. They’ll be tasked with distributing your estate according to your wishes. Choose someone who is honest, ethical, even-handed and capable of handling sensitive information discreetly.

2. Organizational and Financial Skills

The role of executor involves a significant amount of paperwork and coordination. Tasks include:

• Locating, securing and managing assets
• Paying debts and taxes
• Filing final income tax returns
• Distributing assets to beneficiaries

While they don't need to be a financial expert, some level of financial literacy is highly beneficial. Alternatively, they can work closely with professionals such as notaries, financial advisors or accountants.

3. Emotional Readiness

The executor will likely take on their duties during a time of grief. Consider whether the person you're choosing can remain level-headed and reliable during emotional circumstances. It’s often wise to avoid selecting someone who may be too emotionally impacted by your passing.

4. Willingness and Availability

Your executor must be willing to accept the role and have the time to perform their duties. Settling an estate can take at least a year —or possible several years—so avoid choosing someone whose personal or professional obligations might prevent them from following through.

5. Age and Longevity

Ideally, your executor should be younger than you or at least expected to outlive you. They should also be in good health and mentally capable of managing complex responsibilities when the time comes.

6. Location Considerations

While it's not mandatory for an executor to live in the same area or country, doing so can make the administration process smoother. Naming an executor who is not a Canadian citizen or permanent resident may trigger additional property transfer tax if you own any real estate. If the executor is a non-resident for income tax purposes, your estate will face some complicated and unnecessary income tax issues.

7. Family Dynamics

If you're considering a family member or one of the beneficiaries under your Will, think carefully about the dynamics among them. Naming one child over another can unintentionally cause friction. In blended families or contentious situations, a neutral third party may be a better choice.

8. Professional Executors

If no suitable person comes to mind, you can appoint a professional—such as a notary public, or a trust company. This can be especially useful for complex estates or where impartiality is needed.

9. Backup Executor

Always name one or more alternate executors in case your first choice is unable or unwilling to serve. Life circumstances change, and having a backup avoids unnecessary delays in administering your estate.

Final Thoughts

Choosing the right executor is not just about naming someone in your Will—it’s about ensuring your legacy is handled with care and your beneficiaries are treated fairly. Discuss the role with your chosen executor beforehand, and review your Will periodically to ensure your choice remains appropriate.

If you have questions about estate planning or would like to make a Will, we’re here to help.

Email us at general@compassnotary.com or call us at 604-256-8300 to schedule a consultation.

Let’s ensure your wishes are clear and your loved ones are protected.