Many people appoint a friend or relative as their executor. They may do this as a compliment, a way of acknowledging their respect and admiration for that person. The reality is that they are left with the stress and responsibility involved in administering your estate at a time when they may be grieving.
Appointing an executor is not a favour that you give to a friend or relative. It is an important personal responsibility that can be time consuming, challenging and requiring complex decisions. When appointing an executor, you should ensure that he or she has the time and capability to carry out the required duties. It is advisable to avoid appointing someone who is a beneficiary and may have a conflict of interest. It is also unwise to appoint an executor who is your age or older than you, to reduce the possibility that they die before you. It is also best that you do not nominate executors who live overseas or interstate as this can cause delays and complications when administering the estate.
Michael and Peter Quinn have been appointed as Executors and Trustees of many Estates over the years and are happy to attend to this appointment.
If you would like further clarification in this regard, you are welcome to contact our team of experienced lawyers by clicking here to submit an online enquiry form or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange conference or appointment.