Executors can be individual people ... a friend, a relative or your attorney, or they can be an organization ... a trustee company or a public trustee. Beneficiaries of the will are not exempt from being Executors. Unless specified in the will; Executors cannot charge for their work. Ideal qualities for an executor ...
- Trustworthy!
- Long living!
- Plenty of spare time.
- Locally based.
- Diplomatic.
- Good knowledge in the area of your investments.
In reality you and I both know that the only person who can fit the bill, is you, and sadly you'll be dead
just when your talents are really needed! However all is not lost. Someone with some of the above skills could hire a professional
to fill in some of the gaps. Obviously this will be a cheaper solution, than actually nominating a professional to perform all the
Executors' duties. And in fact this is usually what happens.
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