Writing a will is crucial as you state your wishes and protect your loved ones. However, you need someone who will ensure everything you wish is fulfilled. And that’s an executor. Executors have a vast range of functions besides executing the will. They will take the will to probate, manage properties before distribution, pay debts and taxes and so on. Thus, you need someone you can rely on.
Here is who you should appoint as your executor.
Someone responsible
By looking at the life of your loved ones, you can tell those who are responsible. With the crucial functions of an executor, you need a responsible person. Someone who can manage the estate, get the right people to help them, make difficult decisions and communicate with beneficiaries effectively.
Someone in good financial standing
An executor doesn’t need to be a millionaire, but should be in good financial standing. The court usually gives a probate bond to executors, which guarantees they will act according to the state laws and the testator’s wishes.
It may be challenging for someone in debt or who has declared bankruptcy to be bonded. This means that your estate will not have an executor, hence the court will choose another or execute the will, which is not what you wanted. Thus, it helps to choose someone whose personal finances are stable.
Someone you trust
A trustworthy executor can give you peace of mind. You should trust that your executor will act according to your wishes.
The executor you appoint may determine the experience of your beneficiaries. If you want your loved ones to receive their inheritances smoothly, you should pick a reliable executor. It will also help to get legal guidance to make informed decisions.