An executor is responsible for implementing your will. Their role may include filing your will with the court, managing your assets, paying debts or taxes, communicating with beneficiaries, and ensuring your estate is distributed according to your wishes. Since this role comes with legal and administrative responsibilities, your choice of executor will determine whether your estate is handled correctly or becomes a source of conflict. Here is what to consider:
Choose Someone You Trust
An executor will have access to your personal and financial information. They must therefore prioritize the estate’s needs over personal interests and follow your wishes without bias. This means carrying out every instruction exactly as indicated in your will, rather than making personal interpretations or decisions about how your estate should be handled.
Dependability
The probate process requires discipline. An executor who is naturally organized can make the estate settlement process easier by keeping all records, meeting deadlines, attending court sessions, and coordinating all parties involved, including lawyers and beneficiaries.
Consider Their Ability to Handle Conflict
Even after drafting a will, disputes between beneficiaries can still occur. An executor should anticipate these situations and handle them impartially while sticking to your instructions. This will help prevent unnecessary litigation and preserve family relationships.
Financial and Legal Proficiency
While executors are not expected to be financial experts or legal professionals, they should understand their financial and legal responsibilities. Selecting someone with at least a basic knowledge of financial and legal matters, or who is willing to consult with professionals when necessary, helps minimize errors that could jeopardize your estate.
Choose Someone Likely to Be Available
An executor may be responsible for managing your estate for several months or even years. It’s therefore important to consider the person’s health, work commitments, and geographic location, as these factors can impact their availability. Executors who are frequently unavailable may slow the administration process, creating unnecessary conflicts.
That said, it is important to note that even the most reliable executor may become unavailable due to unforeseen circumstances such as sudden illness or death. Consider naming a backup executor, as this will ensure your will is administered promptly even if the primary executor cannot serve.
Do Not Feel Pressured to Choose Family
While you may want to name a spouse or adult child, it is not always the best choice. Family disputes or the lack of experience in executing a will may compromise the whole process. Consider non-family members, such as professional fiduciaries, as they understand their obligations and can execute the will impartially
Avoid the Hustle: Work with an Estate Planning Attorney
An experienced estate planning attorney can guide you through the process of selecting an executor and explain legal responsibilities. They can also assist with drafting instructions to minimize disputes and misunderstandings.
If you are ready to name an executor, then don’t hesitate to contact us at Michael F. Kanzer & Associates PC, We can help you create an estate plan and even act as executors to ensure your wishes are fulfilled. Book your appointment today.