How to Choose an Executor for Your Will
When it comes to making a will, choosing an executor (the person who will oversee the administration of your estate after you pass away) is a decision many people struggle with. Of course, you want to select someone who is trustworthy and will honor your wishes while making sure your beneficiaries receive their assets. Although most of us dearly love our friends and family members, not everyone is cut out to serve an executor.
So what qualities make a good executor? Here are four things to look for when deciding which person to name as executor in your will.
Serving as an executor can be pretty time-consuming. Your executor will need to meet with your estate’s attorney several times over the course of the estate administration process. Pick someone who is prompt, accessible, and whose lifestyle can accommodate the added burden of looking after your final affairs.
Perhaps above all, your executor should be a trustworthy person who will distribute your assets fairly and according to your wishes. Many executors end up handling large amounts of money. Choose someone who can approach this obligation both professionally and ethically.
Executors must do everything from gather your mail to sort through your final outstanding bills. He or she must also settle your accounts, such as making sure creditors are paid and benefit claim forms are mailed on time. Inventorying these documents requires attention to detail and good organizational skills.
Mental toughness is a good trait for any executor. Dealing with several beneficiaries at once as well as inter-family conflict and personality clashes can take a toll on anyone. Make sure the person you pick is emotionally resilient enough to deal with the mental strain of administering your estate.
Before you name someone as executor in your will, consult him or her first. Serving as an executor is a big job that requires a great deal of time and patience. Always ask before putting someone’s name down as a personal representative in your estate planning documents. To discuss your estate planning needs, call my office today at 772-220-9699.
This website has been prepared by Gregory H. Zogran, P.A. for informational purposes only and does not, and is not intended to, constitute legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice from an attorney licensed in your jurisdiction.