You have plans for your estate after you pass away, and you need the right person to carry out those plans. What you need is a trustworthy and loyal executor of your estate.
Choosing an executor as you are developing your estate plan saves you the fear that your estate will go into the hands of the court. This is important, especially if you want to ensure that your children are given their inheritance.
Executors have lots of responsibilities. You may need to know what characteristics your executor should have to take on this crucial job.
Strong qualities in an executor
Your executor is like a long time-friend. In fact, an executor may be your long-time friend. You may decide your executor is your spouse, child or even your accountant — whoever you feel should fill the role of your executor. They should be:
- Reliable: You need someone you can trust. Someone you know will properly distribute your estate to the intended recipients. This person needs to be someone who will not take more than they are given.
- Responsible: An executor’s job is efficient and timely. They need to act immediately to obtain a series of documents and secure your estate.
- Rationale: Your death could be sudden and shock your family — your executor included. Your executor needs to have the ability to put their grief aside until your estate is properly handled.
Choosing your executor can be a tricky job. With experienced legal guidance, you can better understand everything they’ll need to handle. This can help you choose the right person.