MOST people understand that they need a valid and up to date will and last testament, but few select an executor as carefully.
An executor is responsible for making sure that your wishes are carried out while also making sure that all the legalities are not broken.
Vijay Morarjee, CEO of Fiduciary at FNB, said the estate administration can be extremely complex and time consuming.
“It is important to consider nominating an objective and competent professional as the executor of your will. Trust is important: a professional and experienced executor can minimise the stress of settling an estate.”
Reliability
Consider an executor who isn’t one specific person but a skilled staff that can perform this function.
Accessible
Keep in mind that your beneficiaries may live across the country or even in other countries. This is why it makes sense to choose an executor that has sufficient regional and national representation.
Skills and experience
Your nominated executor should have the skill and experience required to take care of your estate.
Nominate a specialist estate administrator who has the legal and tax knowledge that’s needed.
Trust is key
Do you trust your executor enough to step into your shoes and protect what is important to you while having the necessary understanding of the estate administration process?
As this is a difficult task, FNB Fiduciary can assist with the administration of all estates, from the simplest to the most basic.
