You can make any changes to your will after writing it, including changing your executor. Even though you may have taken calculated steps to choose a reliable executor, you may need to change them in the future.
Here are four reasons that may call for this:
1. Unwilling to serve
An executor’s duties can be complicated. Accordingly, they need to obtain the needed knowledge to serve competently. This is why willingness is a vital quality of an executor.
Your executor may have been willing to serve but may change their mind later. If this happens, you should accept their wish. They may have a conflict of interest or new responsibilities in their life. Regardless of the reason, your relationship doesn’t have to change.
2. Change in relationships
If your relationship with your named executor changes, you may need to pick another party. For example, if you choose your spouse but get a divorce, or you are no longer in close contact with your named party. You want an executor you trust has your best interest and is adequately informed about the estate and your wishes.
3. Inadequate skills
Chances are your executor lacks professional skills. That’s why you need to connect them with your financial advisor, tax professional and so on to obtain adequate information. Therefore, inadequate skill or abilities may not be a primary reason to change an executor.
But if your executor’s skills fail to improve after providing them with the required resources, you may need to appoint someone better equipped.
4. Illness or death
If your executor becomes seriously ill, affecting their capability to assume their duties, or dies, you will need to name another party.
In all cases, you should seek legal help to validate your changes.
