A will is a legal document that provides instructions on how your assets should be divided upon your death. While the document itself is important, the people involved in managing your assets are also vital.
The executor of your will is the person responsible for ensuring that your instructions are followed through. How do you go about choosing the right person for the job?
Consider their age and health
Ideally, the executor should be younger than you. This makes it far more likely that they are still around and fit to carry out your instructions upon your death.
Consider where they are
Probate will take place in the state in which you drafted your will. The executor may need to meet with other professionals involved in your estate plan as well as your beneficiaries and heirs. In practical terms, fulfilling these duties will be much easier if they live close by.
Ask them if they want to do it
Being an executor requires a lot of commitment and it is a big responsibility. Not everyone will be up for the task. That’s why it’s important to have a discussion with your chosen executor before making any final decisions. You want your executor to be dedicated and committed to acting in the best interests of the beneficiaries.
Ideally, your chosen executor should be impartial. This will help to prevent complications and will contests. Remember, you can change your will and executor at any time you feel these are necessary steps. Having legal guidance on your side can help you to make the right decisions.
