Who should your estate executor be?

On Behalf of | Nov 21, 2022 | Estate Planning |

An estate executor is someone who essentially manages your estate after your death, ensuring that everything goes in accordance with your will.

To that end, it is important to choose a good executor who will make the right judgment calls. But how can you do that?

The skills executors need

Forbes discusses the process for choosing an estate executor. Essentially, you want a person who fits three main points: someone who you can trust, someone with the skills necessary for an executor, and someone with free time.

Most people turn toward their relatives first because of the first point: having someone you can trust. A relative knows you well and likely knows your family situation, too. You can trust them to honor your will and take action and make decisions that you yourself would make.

However, that is not enough on its own. An executor also needs to have several key skills in order to successfully manage your estate plan. This includes time management, social skills, leadership skills, organizational and managerial skills, and more.

Why time is necessary

Finally, your executor needs to have some time on their hands and a relatively stable schedule. The probate process can last years, and your executor needs to see the whole thing through. This means you need someone who has the ability to drop what they are doing at the news of your death and immediately handle your estate potentially for years.

Thus, someone whose plans change often or who plans on making big life changes in the near future may not be your best option.

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