When making a will, a very important consideration is who you trust to take care of your affairs after your death. In a straightforward case, this will be the person to extract a grant of probate and distribute the assets of the estate to the beneficiaries. The responsible person (or persons) is known as the executor or executrix.
Most executors will appoint a solicitor to deal with extracting the grant of probate, and to managing the practicalities of the process. The executor remains legally responsible for collecting in and distributing the assets of your estate. They may sell assets of the estate, and make other decisions in relation to the estate.
It is often wise to appoint two executors, and in general terms, the qualities to seek in an executor are:
- Honesty and Integrity;
- Somebody you trust with your money and affairs, and to carry out the instructions of your will;
- Somebody with close knowledge of your affairs;
- Somebody practical and blessed with common sense;
- Somebody independent of the beneficiaries, or without a conflict of interest;
- A beneficiary may also be an executor;
- Somebody resident in Ireland, and capable of instructing the solicitor, and gathering documentation;
- Somebody capable of attending at the solicitor’s office and signing the required paperwork.
The above is provided for information purposes and is not intended as legal advice. We, at Fitzsimons Redmond LLP, would be happy to talk to you about making your will . Please contact us on 01-6763257 or firstname.lastname@example.org.
By Lisa Quinn O’Flaherty
Partner at Fitzsimons Redmond LLP