Picking the right executor

Aug 26, 2021 | Estate Planning

One of the most important aspects of planning your estate is finding the right person to act as your executor. This person will oversee the closure of your estate and make sure your end-of-life wishes receive proper attention.

Because closing an estate requires a copious amount of work, it is wise to choose someone who possesses certain characteristics. Your thoughtfulness in picking the right person can give you peace of mind.

Choose a team player

The person you choose as your executor will not work exclusively with you. In fact, after your death, this person will work closely with your surviving family members. As such, you will want to delegate this job to someone who shows empathy and can work well with others. A good executor will understand your intentions and will work carefully and respectfully to honor your wishes while keeping your family informed of the process.

It may not hurt to familiarize your family with your executor prior to your death. Introducing both parties may encourage a positive relationship to form even before you pass away. When your family knows who you have selected as an executor, they can provide support.

Choose someone reliable

An executor manages many duties from obtaining death records to closing personal financial accounts to settling any remaining taxes in your name. According to CNBC, you will want to choose an individual who you can trust and who has demonstrated organizational skills. Someone who makes wise financial decisions and takes a proactive approach to get things done is also important.

Using thought in who you select as your executor can provide you with the reassurance that your estate will get the attention it deserves. The right person can make the process more efficient to allow your family the time to grieve.