Can a Solicitor Act as an Executor in a Will?

When it comes to choosing an executor for your will, many individuals find themselves unsure of who to appoint. Some clients even ask if their solicitor can take on the role. While it is possible for a solicitor to act as an executor, it is important to consider a few factors before making that decision.

Firstly, it is recommended to have a family member or a friend act as an executor alongside the solicitor. This is because there are certain tasks that an executor is responsible for, which should not incur unnecessary professional fees. By having a family member or friend involved, you can avoid paying additional costs for tasks that do not require professional expertise.

If you do choose to appoint a professional, such as a solicitor, accountant, or financial planner, they will be entitled to charge for their services as an executor. However, there are alternatives to paying commission or professional fees. One option is to leave a lump sum gift to your executor instead of them charging a fee. Additionally, if you appoint a non-professional executor, they may be able to seek commission, but only with the consent of all the beneficiaries.

It is important to note that many executor tasks do not require a high level of professional skill. In many cases, solicitors assist with the administration of the estate after someone has passed away, handling tasks such as preparing the probate application, collecting asset-related paperwork, and distributing funds. However, it is ultimately the executor’s responsibility to double-check everything, ensure debts are settled, and ensure the will is followed.

When a solicitor is appointed as an executor in addition to their professional role, they effectively wear two hats. This does not necessarily create a conflict of interest, but it does mean that they can charge professional fees for additional activities beyond their primary duties. It is crucial to carefully consider how this arrangement is set up to avoid unnecessary expenses for the estate.

Before making any decisions, it is recommended to have a conversation with potential executors and carefully evaluate their abilities and strengths. Choosing a combination of family members and friends to serve as executors may be a wise choice, as it brings together a diverse set of skills and capabilities needed to fulfill the executor’s responsibilities.

Remember, appointing executors who are family members or friends does not require payment. You can have up to four executors, so consider the strengths and capabilities of those close to you. By selecting the right team, you can ensure that the executor’s job is carried out efficiently and cost-effectively.

I hope this information is helpful for anyone seeking guidance on choosing an executor for their will or assisting others in making this important decision.

If you need more assistance, get in touch with our team at admin@tbalaw.com.au or call 1300 043 103.