Who should I appoint as executor of my estate?

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One option would be to nominate a family member, such as the surviving spouse, as executor.  Another would be to nominate a third party, such as an attorney, an auditor or a trust company of one of the banks.

The advantage of nominating a family member is that he / she can negotiate a fee with whoever he / she decides to mandate to wind up the estate.

The advantage of appointing a third party, on the other hand, is that you can thereby ensure that the estate is administered by a person who has the required expertise and experience.  A third party can also, especially where there are also children as heirs, add value by preventing and resolving disputes between heirs.

In the light of the above the best option probably is to appoint a family member as well as a third party as joint-executors.

Volker Krüger

You can complete a will instruction sheet here:  Testament Instruksievel / Will Instruction Sheet

 

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