The executor of your estate has an important job after your death. He or she will manage and disburse the estate under the guidance of the probate court. However, despite the court’s involvement, the executor has a lot of power. The court will generally leave decisions up to the executor, making it essential that you choose someone you can trust to put in this position.
Forbes explains that choosing an executor should take careful consideration and time because you want to be sure to make the right choice due to the impact it can have on your family. You want to choose someone who knows you well and will respect your decisions. This person needs to be someone you trust and know will do the right thing. In addition, consider the following other characteristics.
Will likely outlive you
It goes without saying that your executor needs to be around when you die. While it may be tempting to appoint a friend or older relative to handle the duties, it does not make sense to appoint someone who could potentially die before you. You will then have to choose a new executor. It is best to choose someone who will likely outlive you yet who has the maturity to handle the duties.
Ability to handle the duties
The duties of an executor take some work and skill. The person you choose should be up to the challenge. He or she may have to track down heirs, make serious financial decisions, handle tax filings and attend court hearings. You want to be sure that whoever you put in this position can handle the responsibilities.