
Who’s in charge? The sometimes overlooked role of the
executor and what it means for your loved ones
Discover how appointing the right executor can help loved ones avoid financial
strain, legal hurdles, and family conflict after your passing.
After the goodbyes: if something happened to you tomorrow, would your loved ones be protected?
We don’t know what happens when we die, but we do know that the loved ones we leave behind will miss us personally—and practically. Especially if we have been responsible for finances, whether solely or jointly with them. If they depend on us (or our jointly held wealth), the situation can become even more challenging, particularly if we haven’t put our affairs in order.
One of the most important considerations is who will manage the estate, and how the succession process will unfold. This issue is often underestimated, with devastating consequences.
Consider a couple who have spent their lives together, raising children and building wealth. All their assets were created during their relationship. Even if some assets are held in one spouse’s name, both partners typically have a claim under most matrimonial property regimes.
In many jurisdictions, the default rule is that any wealth or assets acquired during the marriage—excluding inheritances or personal gifts—are subject to division upon divorce or death, regardless of who holds the title. This makes certain that, upon either event, the surviving spouse is entitled to a portion of the estate.
However, entitlement alone is not enough. Even if the surviving spouse has a rightful claim, they may still be unable to access or control joint assets. Without the legal authority to act on behalf of the estate, they could be left with a humiliating, disempowering wait—unable to access bank accounts, sell property, or manage financial obligations. In situations like these, appointing an executor becomes crucial.
Universal succession and probate: different systems, different challenges
In many civil law countries, universal succession automatically transfers all assets and liabilities to a group of heirs upon death. This group, often including the surviving spouse and children, collectively owns the estate. The issue? No individual can act for the estate without the consent of all heirs, leaving the surviving spouse (and other legal heirs) unable to access joint property or manage financial matters.
In common law countries, the process is different but similarly complex. Assets are locked in probate, where a court appoints an executor or administrator to manage the estate. Until this appointment, the estate remains frozen, preventing individual heirs from accessing accounts or handling financial affairs. Probate can be time-consuming and bureaucratic, especially in cases of disputes, further delaying access to assets.
In both systems, the lack of a clear plan may mean the surviving spouse or principal heir faces delays and challenges in managing the estate. This lack of immediate access to assets can cause unnecessary disruption. Appointing an executor is crucial to avoid this limbo, as it gives a trusted individual the authority to act swiftly and in accordance with the deceased’s wishes.
The role of the executor: a crucial component
Appointing an executor is a critical step in estate planning. The executor oversees asset distribution, settles debts, and ensures all legal requirements are met. As the legal representative of the deceased, the executor manages the estate by gathering and valuing assets, paying taxes, and distributing assets to beneficiaries. They also make necessary payments to dependents and those close to the deceased.
This role may seem straightforward. But it can become complex in cases involving significant assets, cross-border situations, multiple heirs, or unresolved disputes.
The executor’s role is essential in keeping the estate accessible and avoiding “lock-ups” that prevent the surviving spouse from managing their finances. Tools such as trusts or family limited partnerships, or other strategies like powers of attorney or guardianships (for minor children) can give the executor flexibility to manage assets and distribute wealth while protecting against legal claims or disputes.
Take trusts as an example. They can ensure assets are distributed to beneficiaries when ready, particularly in complex family structures or cases involving minors. These structures can also bypass probate, speeding up asset transfer and reducing the administrative burden on the executor.
Without an appointed executor, assets may become inaccessible, delaying key decisions. A well-chosen executor—whether a spouse, trusted family member, or neutral third party—helps manage the estate efficiently, according to the deceased’s wishes. Life insurance can also play a critical role, providing liquidity for the executor to pay off debts and taxes without selling key family assets, protecting the estate’s values.
Choosing the right executor requires careful consideration. While many appoint a spouse or close family member to empower them, it’s essential to assess their emotional and practical ability to handle the responsibility—especially in the case of large or complex estates. A spouse may have intimate knowledge of the deceased’s wishes and family dynamics, which can be beneficial in sensitive situations.
However, potential conflicts of interest between the executor’s own interests and those of other heirs must be considered. In some cases, it makes sense to appoint a spouse or close family member as executor but provide them with the support of professional advisors to handle the legal and technical aspects. This balance can ensure both a personal touch and professional efficiency, reducing the burden on the family during a challenging emotional time.
However, caution is needed: excessive concentration of power in the hands of one person—without strong checks and balances—can create a “captive” situation for heirs.
Conflicts of interest may arise, and proper oversight is critical, particularly for estates with multiple and diverse interests. Family governance rules within a family limited partnership or trust can help create transparency and prevent misuse of authority by the executor.
Ultimately, appointing an executor goes beyond asset distribution. It’s about protecting your loved ones from legal uncertainty and financial hardship during a difficult time. A capable executor provides peace of mind, ensuring your estate is handled with care and efficiency.
Non-traditional families, blended families, and special circumstances
Estate governance becomes more complex in non-traditional and blended families, where legal protections may not align with the deceased’s wishes. For life partners who aren’t legally married, or for families with complex dynamics—such as children from previous marriages, step-parents, or step-siblings—the challenges of inheritance can be significant. Without explicit planning, certain family members may not be entitled to inherit, or their rights are open to dispute by other heirs.
In many jurisdictions, life partners or long-term companions who aren’t legally recognized as spouses may be excluded from inheritance unless specific provisions are made in the will. They may also lose access to jointly held assets or the family home without legal recognition.
Appointing a neutral executor is an effective way to address these challenges. In families with multiple sets of heirs—such as children from different marriages—a neutral executor respects the deceased’s wishes with impartially, preventing conflicts and keeping the focus on honoring the legacy rather than personal grievances.
For example, in a family where a person has remarried and has children from prior and current marriages, a neutral executor can avoid accusations of favoritism. Similarly, appointing a child from a previous marriage as executor may lead to fairness concerns involving the surviving spouse or step-siblings. In both cases, a neutral executor helps prevent family divisions and facilitates fair administration of the estate.
Beyond asset distribution, a neutral executor helps safeguard relationships and reduce risks of estate disputes, which can drain emotional and financial resources. They should possess empathy, resilience, and maturity to navigate delicate family dynamics and manage the estate plan with both competence and sensitivity. Appointing such an executor allows the estate to be handled smoothly, in line with the deceased’s values.
Beyond drafting the last will: key actions for effective estate governance
Drafting a will is a good and necessary first step, but it’s not enough by itself.
In our experience, it’s a mistake to believe that writing your will mark the final step of estate planning. To facilitate a smooth transition and prevent complications, several practical measures must be taken, and clarity and transparency must be prioritized.
- Make sure the will’s location is known. Many estates face unnecessary delays because the will cannot be found, leading to complications during probate and uncertainty about the deceased’s intentions.
- Maintain transparency regarding major assets. A comprehensive inventory of assets, including real estate, investments, and digital accounts, ensures the executor can act swiftly and comprehensively.
- Discuss inheritance arrangements with heirs, and the executor. Open communication can reduce the risk of misunderstandings or disputes, especially regarding the division of sentimental or valuable assets.
- Secure access to important legal documents. Your executor will need more than your will—documents such as property titles, insurance policies, and trust agreements are essential to keep the estate process moving smoothly.
- Provide provisions for digital assets and identity. Online accounts and digital subscriptions need to be managed or closed after your death, and your executor will need clear instructions on handling these.
The importance of these steps cannot be overstated. Without clear guidance and arrangements, liquidating your estate can become a long, expensive process that drains emotional and financial resources. By combining strategies like trusts, lifetime gifts, and insurance with a solid will, you may provide clarity and security for your heirs while protecting your estate from the pitfalls of poor planning.
Why your last will can’t wait: start protecting your loved ones today
Too often, people shy away from drafting their wills.
Sometimes, this hesitation stems from discomfort with the topic of death. Other times, it’s due to advisors lacking the empathy or insight to guide clients through this delicate process. Inheritance isn’t simply about who gets what. It’s also about a smooth transfer of wealth and responsibilities, and providing financial and emotional security for your loved ones after you’re gone.
The good news is that you don’t need to have all the answers immediately. You may not yet be ready to decide the specifics of inheritance. But what’s crucial is taking the first step. A will can be as simple as a single sentence appointing an executor. Whether you choose a neutral party, your spouse, or your life partner, this initial step ensures that someone is empowered to manage your estate.
And remember: your will is not set in stone. It can be changed as your circumstances evolve, giving you the flexibility to adapt your estate plan while still providing protection for your loved ones.
Estate governance checklist: seven questions to consider
As you reflect on your estate planning, here are seven essential questions to help you tackle the challenges discussed:
- Who will manage my estate? Have I chosen an executor who can handle the responsibility, or would a neutral party better prevent family conflicts?
- How have I protected my partner and other loved ones? Does my plan ensure they’ll have immediate access to resources, especially if our relationship isn’t fully recognized by law?
- Are my assets clearly documented? Do I have an up-to-date inventory of physical, financial, and digital assets, along with supporting title documents, legal agreements, and other important paperwork, with clear instructions for my heirs?
- Have I taken steps to avoid disputes? Am I transparent with my heirs about my intentions, particularly for sentimental or high-value items?
- Does my executor know where to find my will? Are my will and other important legal documents securely stored, and have I informed the relevant people—such as my executor or key family members—of their location?
- Have I considered alternative strategies? Would tools like trusts, lifetime gifts, or joint ownership simplify the process and ease the burden on my loved ones?
- Is my plan up to date? Am I regularly reviewing and updating my will and key documents to reflect changes in my family or financial situation?