While it’s uncommon, an executor or other fiduciary can predecease you.  Naming a successor is one way to ensure you have a person who can fulfill those duties and avoid difficulties that might affect the settlement of an estate, says Yahoo Finance’s recent article entitled “What Happens If the Executor of My Will Dies?”

If the executor dies during the probate process, a successor executor can complete the estate settlement. However, if there’s no successor executor named in the decedent’s will, someone else will have to come forward to do it.  That person may not have the beneficiaries’ interests at heart, someone who the testator didn’t want to serve, and might even be a creditor of the estate.

A person who comes forward to administer the estate, if they weren’t named in the will, may have to get consent of others which isn’t always easy or possible.  They may also have to post a bond at their own cost.  A probate bond is essentially an insurance policy against any financial losses that might occur, if the executor abuses their power or otherwise mismanages the estate. The amount of the bond can correspond to the amount of the estate.

If you’re the person who’s making a will, the easiest way to avoid complications that may result from the death of an executor is to name one or more individuals to succeed them. Therefore, if the executor dies before you do or during the probate process, someone else will be waiting in the wings to take up the reins.

To some degree, it’s worth considering placing assets in a trust to avoid complications following the death of an executor altogether. That’s because the trustee would be responsible for distributing them, and can often be handled outside of court, further limiting the time and difficulty of the process.

Most estate planning attorneys can also anticipate this problem, which is why we ask about potential back-up fiduciaries.  We also provide mechanisms to name fiduciaries, where possible, if named fiduciaries cannot or will not serve.  That isn’t as good of a strategy as naming suitable back-ups and updating your estate plan as needed, but can help.

In summary, an estate administration may be disrupted if a named executor predeceases the testator, but naming suitable contingent executors and updating your estate plan as needed can help avoid this complication.

Reference: Yahoo Finance (May 15, 2023) “What Happens If the Executor of My Will Dies?”