You have the right to determine where your belongings go after you pass. Thankfully, a proper estate plan and will can help to make sure that happens.
Along with those elements, it is important to have the right parties in place to enforce your written orders. That is why selecting the right executor can be almost as important as creating an executable will.
Along with being able to fulfill the requirements of the law for an executor, you should also be sure your executor has a track record of being financially responsible. A person with a scarred financial background may not be the best choice. You should seek to select an executor who will handle your assets properly and respectfully.
Age and health
Though it is not usually a leading considering factor in most cases, it is important to think about the age and health of your executor. Should your executor pass before you and you do not revise your estate plan afterward, your estate could end up in the hands of someone you would not choose. Along with physical health, you should also consider the executor’s mental fortitude.
You should seek to select an executor who not only has a good relationship with you, but also with your beneficiaries. Particularly in the case that you choose a beneficiary within your family, it may be beneficial to discuss your choice amongst all parties who will be affected by the decision. Otherwise, your estate may face certain roadblocks, such as a will contest during the probate process. Though the intent of this measure is to avoid issues in the future, at the end of the day, you should go with the executor of your choice.
These are just a few of the main aspects to consider when selecting your executor; you may add more criteria specific to your situation. At the end of the day, you should select whomever you are comfortable with and believe to be the best person for the job.