- Question on Will writing obstacle I (cannot find executor and trustee)

Question on Will writing obstacle I (cannot find executor and trustee)

Written by Wilfred Ling

Tuesday, 03 May 2011

Question: “I am not writing my Will because I cannot find a suitable executor and trustee.”

Answer:

The job of the executor is to apply for Grant of Probate, pay for funeral expenses, pay of all debts and distribute the assets. Normally the executor become the trustee if there are assets that cannot be distributed immediately such as assets meant for children who are minor or for aged parents who already have severe form of dementia. The executor should be familiar with financial and legal matters, or at least know whom to seek for help in these areas.

If you cannot find an executor/trustee, you need to examine whether is it a matter of unable to find a trustworthy executor or unable to find a competent executor.

For the first case, you can appoint joint executors in your Will. This reduces the risk of any wrong doing as compared to a sole executor.

For the second case, if you cannot find a competent executor, you may wish to appoint a professional to do it. For example, you can appoint a MAS licensed trust company as executor.

You can appoint up to 4 executors in your Will.

If you wish to appoint a MAS licensed trust company as executor and trustee and find someone to have your Will drawn up, feel free to approach me.

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