Preparing for your time to go isn’t always fun. Fortunately, it can give your loved ones some relief when the day comes. Before you die, you will want to name an executor to look after your estate. This person will be managing your assets and liabilities, communicating with loved ones and ensuring your will gets filed in the appropriate probate court. Because these responsibilities are very sensitive, you shouldn’t take finding a good executor lightly.
Reliability and responsibility are vital traits
Because an executor’s fiduciary duties can be very demanding, you’ll want someone who can carry the weight of these obligations on their shoulders while keeping your interests in mind. They don’t have to be the smartest person in the room, but someone with common sense and empathy can do a quality job. Here are a few other things to look for:
- They have the time: People can live hectic lives at any age. But when you’re looking to pick someone as your executor, you want to make sure they’re available if any disputes arise. However, if there is an instance where your executor can no longer carry out their duties, you may want to find a backup. Otherwise, your executor can also name a successor if necessary.
- They’re going to be around for a while: When choosing an executor, you’ll want to make sure you have someone younger than you. While a spouse or a sibling close to your age can seem like a wise choice, it could be inconvenient if they’re not around for much longer.
- They’re financially responsible: Because estates usually involve money, you will want someone who can handle their finances. Life can throw curveballs to anyone at any age, but those who’ve proven they can handle financial ups and downs can be a reliable executor.
- They’re transparent: As executors are in charge of distributing assets to designated beneficiaries, picking someone honest and objective is crucial. You don’t want someone who may misinterpret the requests stated in your will to serve their interests.
Making these decisions take time
Once you’ve evaluated your options and selected the right person to serve as your executor, you can rest easy knowing your estate is in good hands. Those who need assistance picking an executor may want to contact an experienced estate planning attorney; they can address any questions or concerns you may have.