So, you’ve decided to have proper and legal Wills prepared either for just yourself or for you and your partner. Now what? 

There are going to be a number of questions and concerns that you and your lawyer will be reviewing in anticipation of you doing your Wills. One of those questions centres on who you will make your personal representative. 

Basically, the personal representative is who we used to call an “executor” of your will. Their role is effectively to manage your estate upon your death, put together all of the assets that might be affected and administer your instructions that may or may not be in your Will. It can be a big undertaking depending on how well you have prepared. So just exactly who is the best option to take on this role?

Option #1 – Your Partner/Spouse

If you are married or have a partner, they are the logical person to assume this role. They are usually aware of your assets and your wishes assuming that you have had these types of conversations. If you haven’t, it’s likely time that you did or at least have each other be aware of the situation. 

They are also very possibly the main recipient of part, or all of your estate so they make the logical first choice to explore as your personal representative. In the end, they can administer your estate with the help of a lawyer and deal with accountants, bankers or any other professionals that might be needed to give effect to your Will. They should also know of any life insurance or investments that you own to make things as simple as possible. Remember, they are also dealing with the emotional trauma of losing you!

But, even if you do have a partner/spouse that you can name as your primary personal representative, who will be your alternate?

Option #2 (or #1) – Adult Kids

Your adult children can be or might be a good option for either your 1^st choice or your alternate as personal representatives of your Will. I say this with some reservations, however, because there are some key factors to consider:

1. Their age – are they at an age where they are no longer subject to a trust you have set up?
2. Their abilities – are they able to handle what is a big administrative task?
3. Are they in the same province as you or in the same country? and
4. Do they have siblings? – If so, who is going to be tasked with this? One? All of them? Some of them?

These are all important questions that need to be examined by your estate lawyer in your initial meetings.

Option #3 – Friends or Other Family

Family and friends are often suggested as potential personal representatives, either as a 1^st choice or as an alternate. They are very viable options for this position but there are a couple of factors to keep in mind:

1. Their age – are you considering someone older than you? If so, this is where we have to consider whether that person is a good option;
2. Their location – are they in Alberta? If so, that certainly is helpful as they are likely bonded (insured) as a result. The situation becomes somewhat problematic if they reside somewhere else in Canada. If they reside outside of Canada there could be potential implications for them in their own jurisdiction relating to taxation;
3. What is their interest? – This certainly seems simple enough but you do need to consult with them with regards to whether they want to take on this responsibility; and
4. Are you going to compensate them? – Administering an estate can be a lot of work. This is more of a question for people you want to nominate who are not also beneficiaries.

There are a number of scenarios that can arise, and these are the sorts of things that we at LeClair Thibeault will discuss with you during the process of drafting your Will.

Option #4 – Financial Institutions

Sometimes there just is no logical choice available for you to name as a personal representative. Or, alternatively, your estate is complex and needs very specific skills to manage. In these situations, a reasonable possibility might be a financial institution.

All of the chartered banks in Canada offer private equity services. Though these come at a relatively significant fee, the professionals involved will have dealt with a variety of circumstances. Where we see or recommend this option is when:

1. There are no viable options to act as a personal representative;
2. There are potential family tensions in naming someone as a personal representative; 
3. The estate is potentially large and will involve significant expertise to both resolve and manage it; or
4. Common sense dictates this as a solution.

If this is something that is of interest, perhaps discuss it with your banker or call us and we can discuss whether this is or isn’t a practical option. 

Wrapping It All Up

Understanding the value that a lawyer brings to the table is highlighted by what seems to be a simple question – who will be my personal representative? And this is just 1 of the questions you will have to work through the answers for in preparing your Will. No internet based or off-the-shelf Will kit can adequately or properly address this and other questions. 

Contact us at any time to discuss how we can help you understand and create a valid and enforceable Estate Plan. 

By Ron Thibeault – Lawyer

LeClair Thibeault, Barristers & Solicitors