The current provisions of your estate plan are not permanent. You can always update your estate plan, and one of the changes you can make is your choice of executor. You may need to replace them in certain circumstances.
Here are four examples of such circumstances:
Unwillingness to serve
Your chosen executor may want to step down after initially agreeing to serve. They may do this because they have new responsibilities in their life, a conflict of interest has arisen that affects their ability to serve as expected, or they believe someone else is well-suited to serve. If this happens, you will need to name another executor.
Illness
If your executor becomes seriously ill and can no longer fulfill their duties, you should pick someone else. Serving as an executor can be demanding – they need to move around to locate and manage properties, communicate effectively with beneficiaries and interested parties, pay debts, file tax returns and so on. It can be challenging for someone dealing with a health condition to handle such duties.
Divorce
If you had named your spouse as your executor but have gotten a divorce, consider naming another party in their place. This is especially crucial if you have a contentious divorce.
If you wish to keep your ex-spouse as your executor, you need to express this in a new will, as divorce voids any provisions in a will made during marriage that affect the former spouse.
Death
If you outlive your executor, you will need to name another one. Many people put a backup option in their will in case their executor dies and then they die before getting around to replacing that person with a new executor.
You can replace your executor by drafting a new will or a codicil. Legal guidance can help you validate your decision.
