Choosing individuals to be key players in your will is one of the most personal—and important—parts of estate planning. Here’s a clear breakdown of the roles and the characteristics you should look for when deciding whom to appoint.
Executor
What they do:
The Executor is responsible for managing your estate after you pass away. Their duties include:
- Probating your Will
- Collecting assets that pass under the Will
- Paying debts, funeral expenses, and administrative costs
- Filing and paying any estate or inheritance taxes
Who is the right choice?
Choose someone extremely organized, responsive, and able to turn around document requests quickly. Your Executor must be someone who promptly returns calls/emails and takes action without delay. This is not an honorary title—it’s a job for someone reliable and detail-oriented.
Trustee
What they do:
The Trustee manages the money and property in your trust, following the instructions you’ve laid out—how to invest, how and when to distribute funds, and how long the trust lasts.
Who is the right choice?
Select someone who knows your family well and will make decisions based on how you would have handled things if you were still here. A common misconception is that Trustees must be investment experts. Not true—Trustees typically hire professional wealth managers. What matters most is their judgment, discretion, and ability to act in the beneficiaries’ best interest.
Guardian
What they do:
A Guardian is responsible for the day-to-day care of your minor children or of an incapacitated adult. This includes decisions about education, medical care, and overall well-being.
Who is the right choice?
Your Guardian should be someone you trust deeply—someone who can step into your shoes and pass on your values, traditions, moral guidance, and love.
Important considerations:
- They do not need to be blood relatives.
- Think carefully before appointing a couple; couples can divorce, which could drag your child into litigation. If you do appoint a couple, your Will should specify what happens if they separate.
- As children get older, maintaining school district stability becomes crucial. Disrupting riendships and schooling after a major loss can create unnecessary upheaval, so consider where your Guardian lives or would be willing to live.
The Bottom Line
Naming your Executor, Trustee, and Guardian is ultimately about protecting your family—and making sure your wishes are carried out exactly as intended. The “right” choice isn’t necessarily the oldest sibling, the wealthiest relative, or the person who lives closest. It’s the person who can best fulfill the job you’re giving them. If you’d like help evaluating candidates or structuring your Will to prepare for different scenarios, we are always happy to guide you through the process.
This commentary reflects the personal opinions, viewpoints and analyses of the Legacy Trust & Capital Partners employees providing such comments and should not be regarded as a description of advisory services provided by Legacy Trust & Capital Partners or performance returns of any Legacy Trust & Capital Partners client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Legacy Trust & Capital Partners manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.
