family

Family Law Blog

James D. Madden & Aruna P. Rodrigo, Family Law Attorneys

Who Should I Choose As The Executor Of My Estate?

04-22-2015

Estate planning lawyers at James D. Madden, Attorney at Lawdiscuss how to choose an executor or trustee, and what functions they will perform on your behalf.

Only you can choose the executor or trustee of your estate. If you do not have a Will, there will still be an executor, it’s just that you don’t get to choose that person – a judge will. Who you choose as the executor of your estate is perhaps one of the most important decisions you will make in your lifetime, so you want to be sure you’re choosing the right person.

Before you name an executor, ask yourself, does the candidate you are thinking of meet the following criteria?

  • Financially Responsible
  • Stable
  • Trustworthy

The executor is the individual (or institution, in some cases) solely responsible for collecting and dividing your assets according to your wishes. Make sure you trust that person with protecting the beneficiaries named in your Will and preserving your wishes. There is no one-size-fits all approach to choosing an executor, but using the “responsible, stable, trustworthy” criteria can certainly help.

PAID EXECUTORS

If you are afraid of a potential conflict of interest in naming one relative as the executor and excluding others, you may want to consider hiring a paid executor, a neutral third party who will be responsible for administering your estate. Disgruntled relatives are just one reason you might consider a paid executor. Another reason might be that your other trusted relatives are unable to perform that duty due to illness or grief.

If you have been named an executor of someone’s estate, this can be a big burden to bear on your own, especially with little experience in this area. The good news is, you don’t have to go it alone. The estate planning attorneys at James D. Madden, Attorney at Law are here to ensure that you carry out your functions properly.

Categories: Estate Planning

Put Experience on Your Side