What is a Professional Executor of a Singapore Will?

A professional executor is appointed to oversee your will. They have a role to play in relation to you and your beneficiaries. You are known as the testator because you are the will. The individuals who will inherit your assets and estates are known as the beneficiaries.

Your professional executor will oversee the following:

• Administering and distributing your assets and estate after your death
• They can be the trustee of your estate until the time comes (if your beneficiaries are under 21-years old)
• They have the power to hold your assets and estate upon your death until your beneficiaries are of age
• Assist with the funeral arrangements.
• Pay off any debts that the deceased owes
• Lodge an application with the court for Grant of Probate
• Attend court appearances for your estate

Choosing a professional executor

For larger estates, or when legal matters such as trust declarations arise in a will, it may be better to appoint a professional executor. They often have financial expertise and may also be better placed to act as trustees with regards to trusts declared under the will, or act on behalf of the estate of the deceased in any legal proceedings. Such financial expertise is especially important where one of the beneficiaries is a minor and their share of the estate must be held in trust until they turn 21.

As fiduciaries, professional executors are obligated to protect beneficiaries under a will and may be liable for funds wrongly disbursed. To ensure that beneficiaries are fully protected, and to avoid exposing close friends and/or relatives to such liability, it is often better to select a professional executor who knows precisely how to comply with their duties under the law.

Since a professional trustee cannot be expected to know your personal wishes and preferences as well as a close relative or friend might, you can help resolve this by asking your will to be drafted with greater specificity or by writing a letter of requests that provides background information for the executor to keep in mind when exercising any discretion expected of them.