How to Choose an Executor For Your Will

Choosing an executor is one of the most important parts of putting together your will. The executor is the person who will handle probate court, and they will also be responsible for distributing your assets according to your wishes. Your executor should be someone that you trust implicitly and that is up to the task of handling these responsibilities. Here’s what to keep in mind when choosing an executor.

What can you afford?
Many people choose to have a lawyer or a bank serve as their executor. Many institutions are willing to do this for a fee. Many people prefer to have a professional executor, as they are experienced in working as executors and are very impartial. However, this can get expensive. If you are going to have a friend or family member serve as your executor, you should still compensate them due to the large amount of work that they will need to put in. If you are looking to save money, however, using someone you already know will still usually cost less than using a professional.

Who knows you well and can best represent your wishes?
If you opt for an executor in your life as opposed to a personal executor, it is very important that that person is someone who knows you very well and that you trust to follow your wishes as closely as possible. It is very helpful during the difficult time after your passing to have someone that can speak for what you might have wanted.

Who is responsible and qualified?
You’ll need to make sure that whoever you choose as your executor is someone who can handle the pressure of the various duties associated with the role. You’ll want to avoid anyone who panics in stressful situations, or who may not be educated or intelligent enough to ensure that everything is managed correctly. Although your executor will always have the option of consulting an estate attorney for help if they need, you’ll feel comfortable knowing that they have a level head on their shoulders and can handle things on their own.
If you don’t have anyone in your life who you trust to fill this role, then it may be in your best interests to use a professional executor.

Who can stay impartial?
Although many people decide to use a family member or close friend as their executor, it is very important that this person is able to remain impartial when distributing your assets and handling all of the other responsibilities that come along with that. Wills often result in family tensions or even arguments, and the executor cannot take sides in this. Try to use someone who handles conflict well and can be the voice of reason in a contentious situation.

Who is in good health?
You never know what’s going to happen between now and the time of your passing, so it’s important to choose someone who is very likely to outlive you and remain in good health. Many people choose family members of a younger generation for this position because they are the most likely to be healthy and available to help, even in several years’ time. Avoid choosing someone who is already struggling with health problems.

Who is willing to be your executor?
It’s very important that the person you choose is willing to take on this challenge. Serving as an executor can go on for as long as a year, depending on the probate court proceedings, so it is a fairly large commitment. Sit down with the people you are considering choosing to be your executor and talk with them at length about what is involved to see if they would be interested.