Picking the right estate executor is very important. This person is going to be responsible for things like inventorying your assets, contacting beneficiaries, distributing the inheritance, paying final taxes and debts, and much more.
So how do you choose the right person for this important job? As you make your estate plan, here are a few things to keep in mind.
Attention to detail
Administering an estate is very complex. Even just inventorying your assets and figuring out what you own and what is included in the estate plan can be complicated. You need someone who pays close attention to detail and has a high level of responsibility.
Someone younger than you
Naturally, you also want to pick someone who is significantly younger than you are. Do not pick a spouse or someone else in the same age range. You need to be confident that this person will outlive you and still be fully competent to handle your estate.
Physical proximity
Additionally, being an executor is an intense job that may happen suddenly. It is best to pick someone who lives close to you and can step into this role. It is also important that they have the time to realistically address it, so you may want to consider their professional responsibilities and lifestyle.
Putting your family first
Above all else, you need someone that you can trust to uphold your wishes and put your family’s best interests first. You need someone who is willing and able to take on the responsibility, and you need to know that they are going to work hard to help the process go as smoothly as possible.
Choosing an executor is just one step to take as you make your estate plan. Carefully consider all of your legal options at this time.
