Can I have another person other than my executor manage a specific asset?
The Executor is responsible to apply for Grant of Probate upon your death, locate your assets, pay off your debts, taxes, funeral arrangements and distribute the remaining assets to your beneficiaries. He/she will to hold and manage your assets during this period before distributing.
If say you want another person to manage a particular asset (e.g. for person A to liquidate the condo as you know person A to be a superb property agent), you can do so by keying in the following under the "Additional Instructions" within the asset itself.
I direct my Executor(s) to pass this asset to my {Relationship}, {Name}, {Identification Number/details}, for him/her to {...} this asset before distribution.
If the asset is to be managed over a period of time before liquidation, you can use the following instead:
This asset is to be held in trust by my {Relationship}, {Name}, {Identification Number/details}. {Name} shall have full discretion in managing this asset, including the authority to determine the timing of its sale based on its market value. Should the market be favourable, {Name} is empowered to sell the asset immediately. Alternatively, if the market is deemed unfavourable, {Name} is authorised to continue to hold the asset in trust and manage it until such a time when he/she deems the market is favourable to sell the asset.
In the event where {Name} is unable to manage this asset due to any circumstances, this asset is to be liquidated.
Any additional income and proceeds from the sale of the asset shall be divided among the beneficiaries in the same proportions as indicated in this Will.