^InsightsThe Role of Your Executor: How to Choose the Right Person for the Job

When it comes to estate planning, many people focus on the “what” — who will inherit their home, investments, or cherished family heirlooms. But there’s another decision that’s just as important, and often overlooked: who will be in charge of carrying out your wishes.

That person is your executor (also called a liquidator in Québec), and the choice you make can significantly impact how smoothly, or how painfully, your estate is settled.

In our work at Verus Financial, we’ve seen well-prepared plans fall apart because the wrong executor was chosen, and we’ve seen complex estates settle with minimal stress because the right person was in place. This isn’t a role to fill casually. It’s a position of legal authority, financial responsibility, and emotional resilience.

Below, we’ll walk through what an executor actually does, the qualities to look for, and common pitfalls to avoid.

What Does an Executor Do?

Your executor is responsible for managing your estate from the moment of your passing until your assets are fully distributed. Their legal duties typically include:

• Securing assets: Protecting property, closing bank accounts, safeguarding valuables.
• Paying debts and expenses: Settling outstanding bills, taxes, and final expenses.
• Filing final tax returns: This can involve multiple filings and working with accountants.
• Managing investments during settlement: Deciding whether to hold, sell, or transfer assets while the estate is in process.
• Communicating with beneficiaries: Providing updates, answering questions, and diffusing potential conflicts.
• Distributing assets: Following the will’s instructions and obtaining legal releases.

The job can take 12–18 months for a straightforward estate and much longer if there are disputes, cross-border assets, or complex business holdings.

Qualities to Look For in an Executor

This is not simply an “honourary” role, it’s a working position. The ideal executor has a combination of skills, time, and temperament to handle both the technical and human sides of the process.

Here’s what to look for:

1. Organizational skills
   
   Your executor will need to track documents, deadlines, and financial accounts with precision. This is not a role for someone who struggles to keep their own bills straight.
2. Financial literacy
   
   They don’t need to be an accountant or lawyer, but they should be comfortable reviewing financial statements, understanding tax implications, and working with professionals.
3. Impartiality
   
   Family dynamics can become emotional during estate settlement. An executor should be able to act in the best interests of the estate — even when under pressure from beneficiaries.
4. Availability
   The work can’t be delegated entirely to professionals; your executor must be available to sign documents, attend meetings, and respond to requests in a timely manner.
5. Location
   While not a deal-breaker, having an executor who lives in the same province can make tasks like signing documents, attending court, and securing assets much easier.

Common Pitfalls When Choosing an Executor

Even the best-intentioned plans can run into trouble if you overlook these risks:

1. Choosing based on emotion, not ability
   
   Many people automatically select their eldest child, closest sibling, or best friend. But family loyalty doesn’t always translate to skill or impartiality. The most diplomatic and capable person might not be your closest relative and that’s okay.
2. Burdening someone who’s already overwhelmed
   
   Serving as executor can feel like a part-time job. If your chosen person is dealing with health issues, heavy work commitments, or caring for young children, they may not be able to dedicate the time and energy required.
3. Not naming an alternate
   
   Life changes. Your chosen executor could become ill, move abroad, or pass away before you. Always name at least one backup.
4. Ignoring professional help
   
   Some estates are so complex, with business holdings, multiple properties, or cross-border assets that appointing a corporate executor (such as a trust company) may be the wisest choice. Professionals can act alone or alongside a family member to balance emotional understanding with technical expertise.

The Case for a Professional Executor

While appointing a trusted family member can work well, there are situations where a professional executor may be the better choice:

• Your estate is large or complex.
• You have significant business or investment holdings.
• You anticipate family conflict or strained relationships.
• Your beneficiaries live in different provinces or countries.
• You want to reduce the administrative and emotional burden on loved ones.

Corporate executors, often offered by trust companies, charge fees based on a percentage of the estate’s value, but they bring expertise, impartiality, and a structured process that can save time and reduce disputes.

Preparing Your Executor for Success

Once you’ve chosen your executor, your job isn’t done. Set them up for success by:

1. Having a conversation now
   
   Explain why you’ve chosen them, outline the basics of your estate, and confirm they’re willing to take on the role.
2. Organizing your documents
   
   Keep your will, insurance policies, financial account details, property deeds, and business documents in a secure, accessible place.
3. Providing a contact list
   
   Include your lawyer, accountant, financial advisor, and any other key professionals they may need to work with.
4. Reviewing regularly
   
   Revisit your choice every few years or after major life events — such as marriage, divorce, or relocation — to ensure your executor is still the right fit.

The Bottom Line

Choosing an executor is one of the most consequential decisions you can make in your estate plan. The right person can ensure your wishes are carried out smoothly, your loved ones are supported, and your legacy is preserved. The wrong choice can lead to delays, disputes, and unnecessary costs.

Think of it this way: your will outlines what you want to happen, but your executor ensures how it happens. Choose wisely, equip them well, and you’ll be giving both your family and your future self the gift of peace of mind.

At Verus Financial, we guide our clients through every step of the estate planning process, from structuring tax-efficient transfers to helping choose the right executor. If you’d like to review your plan or discuss professional executor services, we’re here to help.