When you wish to write your Will, the key questions to ask are:
> Who will get what and how best to provide for your beneficiaries?
> Who do you appoint as Executor and is that person qualified to be the executor of your estate?
> Can you trust this person with everything you have and will he/she be always there for your beneficiaries?
Understandably, you may want to appoint someone close to you as the executor. However, selecting an individual to manage your estate may do more harm than good, apart from the risk of loss from misuse or mismanagement. The executor will be required to deal with various tedious and time consuming legal, taxation, accounting and administrative matters beginning with the application for probate, attending court hearings, preparing reports, etc. until the distribution according to the instructions in the Will. The process can get very complicated.
In the process of estate administration, the role of executor is very important. Do not know who to appoint as executor? Refer to the table below on pros & cons of appointing different individuals as your executor.
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