There’s a lot that goes into a will – one important factor in deciding who will care for your estate after you pass away, also known as the executor of an estate.
An executor of an estate, essentially, overlooks your estate in preparation for its distribution to your heirs. Executors fill a big role in the estate planning process and choosing the wrong person could make the difference between your family inheriting their share or fighting for what remains of your estate in a dispute.
What makes a good executor of an estate? Here are three positive signs:
1. Your executor is trustworthy
You’ll be putting someone in charge of watching over your estate before everything is distributed, which may mean having someone you can trust take charge. There may be a lot of valuables and heirlooms you want to be passed to specific heirs. The wrong person looking after your estate may consider lining their own pockets before performing their role.
2. Your executor can act fast
There will be a lot to do after you pass away, and your executor should be able to swiftly jump into their role to take action. Your executor should be able to secure several death records that will serve to protect and maintain your estate. If an executor fails to move fast enough, then the wrong people may profit from your death.
3. Your executor knows their legal responsibilities
Executors have legal obligations when performing their role. Your estate may be put in jeopardy if an executor fails to complete their job, which could cause family disputes and legal challenges for everyone.
If you’re on the fence about who the executor of your estate should be, then you may want to seek legal help that can assist in your decisions.