Your estate executor, or estate administrator, is the person that you name to help your family through the probate process. You’re going to write a will that gives them directions. But the executor is the person who follows those directions and does things like paying your debts, taking inventory of your assets, dividing those assets in accordance with the will and much more.
How do you choose the right person? Here are some tips to keep in mind:
Be sure they can take on this role
First of all, you need someone who is organized and efficient. You also need someone who understands this legal process and won’t feel overwhelmed or confused. They need to have the ability to take on this role without making mistakes that could lead to disputes.
Choose someone who is nearby
It can also be important to pick a person who will be nearby and who will be available to step into this role. You may want to choose one of your children. It’s far better to choose a child who lives in the same town than someone who has moved to another state or even another country.
Ask them if they want the role
Finally, don’t just assume that the person will want to be the estate executor. You can name anyone that you want, but it’s wise to talk with them first. Ask them if they feel like it’s a role that they could take on. Remember that this is going to be an emotional time for your family, so not everyone will want to have this type of responsibility.
Setting up your estate plan
After you decide who you want to use as your estate executor, then it’s time to create an estate plan to put this into practice. You need to know about all the legal options you have and what steps to take to put it in place.