November 7, 2014
Choosing an Executor
Choosing an executor to
administer your last will and testament can be a daunting task. And although it
may not be as important as choosing your children’s guardian, it is definitely worth
the effort to carefully consider who you would like to ensure that your final wishes
are fulfilled. If you ignore this important task, the court will pick an
Executor for you. That person may or may not be a member of your family. And
even if it is, it may not be the ideal choice.
In choosing an
Executor, most folks go with their closest relatives. A great choice for
Executor is your spouse/partner, who will likely be most financially affected by
your death. Why not put them in the driver’s seat? Parents and adult children are also good
choices, but keep in mind situations where you have multiple adult children who
might not receive equally under your will, and how that might affect family
dynamics and relationships. Nobody wants to leave his or her family in turmoil.
Also, someone with an accounting or legal background has the knowledge to
navigate the sometimes difficult and tedious process of administering a will.
Naming an alternate
Executor is also a must, in case your original choice of Executor does not want
to administer your will, or he or she passes away before they are able to
administer your will.
Before you decide on
an Executor and an alternate, think long and hard about what you're asking this
person to do, and consider how their role might affect their lives and
relationships.