Choosing an executor for your estate is one of the most important steps of the estate planning process. You want to find someone that is reliable and trustworthy so you can rely on them to take care of things after you are gone. It’s important to spend the necessary time thinking through who would be the right choice to name as executor instead of choosing the first person that comes to mind. Being an executor is a big job, so making sure you select the right person is essential. Below, we are going to provide you with some important things to consider when selecting the executor of your estate. After reading this article, you will have a good idea of how to choose the right executor.
1. Do they understand your wishes?
One of the most important questions to ask yourself when you are considering naming someone an executor is whether or not they understand your wishes. You don’t want to leave things up to chance in terms of what you want to occur with your will. Hiring a great estate planning lawyer can help you lay things out contractually, but your executor will eventually have to make a judgment call. If you choose an executor that truly understands your wishes and what you want to happen after you pass away, you are making a good decision. Pick someone that knows you and understands your personal preferences.
2. Are they good at communicating?
You should consider whether or not someone is good at communicating before you name them the official executor of your estate. Executors will be responsible for communicating with beneficiaries and other related parties. They will need to communicate frequently and clearly to make sure everything is taken care of. If you choose someone that lacks communication skills or isn’t capable of keeping people in the loop, you could be making a big mistake. Good communication is one of the most important things to consider when selecting an executor.
3. Are they organized?
The task of acting as the executor for someone’s estate can be time-consuming and hectic, especially if the executor isn’t very organized. You don’t want your beneficiaries and family to have to wait a long time for a resolution. Make sure you are considering whether or not a potential executor is organized to avoid putting your beneficiaries through unnecessary issues and delays. Your executor will need to be detail-oriented and focused to get the job done right.
4. Is the person trustworthy?
The last important thing to consider when selecting an executor is whether or not they are trustworthy. Your executor will be responsible for handling your assets and specific instructions after you pass away. You want someone you can trust to get the job done right. Don’t put this type of responsibility on someone you don’t fully trust.
Reach out to Derryberry & Associates LLP today if you have any questions about naming an executor or estate planning.