Professional As Executor

Professional as executorIf you have asked all your family, friends, and loved ones, and no one wants to touch your Estate with a 10 foot pole, you may turn to a professional as Executor. No, no, not your favourite hockey player, but your trusted accountant, lawyer, or perhaps a financial advisor.

Accountants and Lawyers are chosen most frequently from the professional resource sector, as they have the strongest skill set to meet the needs of your estate. There are other specialists that provide this service as well, though that may depend upon your province of residence.

Are they capable?

It’s always a good idea to get references from friends and family you know and trust. Check with others that have had first hand experience. A divorce specialist might not be the right choice where a estate specialist may well be. An accountant may have a developed expertise and then again, maybe not. If a friend or family member is Executor they may consult with these advisers when necessary to facilitate the process in any case.

If your Executor is the Lawyer that drafted your Will it is often suggested that the Will be reviewed by an independent legal resource.

Are they willing?

As with Trust companies you may find there are conditions. You will always need to determine these factors before proceeding. Generally the conditions and questions that apply to Trust companies will apply to other professionals. Trust companies are controlled and regulated by legislation. Lawyers and accountants carry malpractice            insurance for these responsibilities. You will need to determine what other protection is available on an individual basis.

These represent only a few of the considerations. There are likely many more that you will think of. It’s wise to make notes of questions and issues that you’ll share with these folks when selecting your professional as Executor.

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