Making advanced plans is important for people in Ohio and beyond. When estate plans are made, people are often given peace of mind knowing that their loved ones will be provided for even after they are gone.
Choosing an executor or trustee is one part of the estate planning process that is particularly important. That’s because a lot is required of an executor or trustee.
Many parents in Lucas County, and others living elsewhere, appoint an adult child to oversee their estate. In families with multiple children, choosing just one may be difficult.
In order to make the best decision, parents should keep emotions out of their decision. They should know that an executor or trustee should be someone that will be fair. In addition, they should have experience handling complex finances. Depending on the size of the estate, an executor or trustee’s responsibilities may be quite vast.
As parents try to determine who to appoint, they should also consider which child is the most practical and organized. After all, they may have to endure pressure from other beneficiaries in the future.
Even when a parent feels that they have made the right choice, issues may come up in the future after a parent has died. There may be times when the conduct of an executor or trustee is called into question. Disputes of that nature are usually settled through probate litigation.
Probate disputes can create emotional turmoil between family members. Because of that, people in Lucas County and others elsewhere are often best served working with an attorney who has experience handling probate litigation cases.
Source: Townhall.com, “Estate Planning: Who Makes the Best Executor or Trustee?” Carrie Schwab Pomerantz, Jan. 17, 2013