Consider these tips when choosing the executor of your will

Consider these tips when choosing the executor of your will

On Behalf of | Nov 24, 2021 | Estate Planning |

When you are gone, you want your estate to be distributed to your beneficiaries as you had planned. Having a will in place is half the job done. The rest lies in choosing the right person to execute your wishes.

No matter the size of your estate, settling on the right person for the job is very important. This is because they will take charge of your assets and can legally perform all the duties you used to do, such as selling property, paying outstanding debts or taxes, and assigning each beneficiary their part.

So, what traits should you look for in your executor?

They should be responsible and trustworthy

Given that your executor will run your estate affairs, you should trust them to implement your will to the letter. They should not act in self-interest at the expense of the beneficiaries. In addition, they should be able to handle and manage your assets responsibly.

Factor in their age and health

It is advisable to consider your executor’s age. It defeats the purpose if you outlive your executor. Therefore, it is recommended that you name at least two executors in your will lest either die before you or choose to negate their role.

Your executor should be able to handle conflict

You ought to look into a person’s temperament before naming them as your executor. A high-tempered person may not be your ideal executor. This is because conflicts may arise among the beneficiaries, and it is up to the executor to settle these disputes amicably.

Importantly, an executor does not have to be a family member. If you have no relatives around or no one fits the bill, you may explore other options in settling for your estate administrator.