Most of my assets are in the US. Is it best to have a local executor?

Written by admin on February 23, 2015

1. Most of my assets are in the US, where I lived for many years, and my son, my main heir, lives there. Is it okay for him to be my executor or is it best to have a local executor?

It would depend on the nature of the assets.  A person should consider making a Will in every jurisdiction in which the person owns real property. The most important consideration is to pick the person to be executor that you trust and feel he or she is capable of doing it.  If all else is equal, then there are some advantages (tax and convenience) to having a resident of the jurisdiction where probate will be granted to act as the executor.

HUGH MCLELLAN, Lawyer

RESOURCES

Making a Will and Estate Planning

Duties of an Executor

Nidus partnered with BC Courthouse Libraries to raise awareness about BC’s essential legal planning documents and the Nidus Registry. The kick off event was held on September 15th at the Vancouver Public Library Central Branch with a panel of experts in the field. Questions that were submitted will be answered in a series of posts by Nidus and various panel members. To see photos from the event click Gallery; and click Registry Sing-a-long for the fun of it!