How Do I Decide Who Should Be My Executor?

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Figuring out who you should name as the executor of your will is an important part of the estate planning process. You want to take your time and make sure that you are picking the right person. If you have any questions about this important role or any other part of this planning process, a Monmouth County estate planning attorney from our firm can help you.

What is an Executor’s Role?

An executor is someone who ensures that your will and estate plan get carried out after you are gone. They also have to take care of some paperwork and other important aspects of your affairs after you are gone. Your executor may have to:

  • Pay any of your remaining bills
  • Prepare your tax returns and pay anything that you owed
  • Talk to banks, brokers, and financial institutions
  • Give the Social Security Administration and other agencies proof that you have passed away
  • Obtain your financial information
  • Sell off real estate, personal property, and other assets of yours

So this is not a job that you can entrust to just anyone.

What Makes a Good Executor?

A good executor possesses a few important qualities. If you are unsure of exactly who
to pick, you should try to find a loved one who is:

Responsible: There are a lot of important tasks to be done here. Your executor needs to be someone that you can rely on to actually get things done. If they do not do what is required of them, this entire process gets dragged out and could cause financial issues and family drama.

Honest: You are giving an executor a lot of power. They are supposed to follow your wishes, but a dishonest person could benefit from being put in this position. Make sure that you really know the loved one that you are making into an executor and that you do not have any blind spots about some of their less admirable qualities.

Well-liked: This may sound strange, but it can be helpful to have an executor who is well-liked by the rest of your family members. Sometimes the executor of a will can be challenged. If there is bad blood between who you choose and another family member who stands to inherit something from your estate, the likelihood of conflict rises. If you want this process to go smoothly, making a choice that is unlikely to be controversial is a good plan.

Once you have found someone who is a good fit for the executor role, make your choice known to other family members.

Schedule Your Consultation With Our Estate Planning Lawyers

If you are ready to make an estate plan, contact the Law Offices of George J. Mardinly. We can schedule a consultation and tell you more about the role of the executor and how we can help you make a plan.