Choosing Your Executor

Your Executor: The Person With the Master Plan

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.

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