What is the importance of choosing the right executor?

On Behalf of | Oct 24, 2022 | Firm News

Thinking about your will and what could happen to your assets after you die can make you feel stressed.

Thankfully, one part of your estate planning is choosing someone who will legally act in your best interests when handling your personal items and money.

Filing your paperwork responsibly

According to Kiplinger, one aspect of an executor that you should take into consideration when choosing someone is whether or not this person is good at meeting deadlines. Since an executor needs to deal with the court and submit important documents about your assets or debts, they need to stay aware of important dates.

Choosing someone who is responsible and good at remembering deadlines is important. You should ask them before you officially choose them for this job so that they can prepare.

Properly talking to your loved ones

Dealing with a deceased person’s family is another part of being a useful executor. When beneficiaries or loved ones disagree over assets or heirlooms, they may have deep feelings about these problems. Choosing an executor who can calmly and reasonably stop disagreements before they become larger issues can help keep the peace during probate.

Using money smartly

An executor should spend money from the estate in a responsible way and never use it for personal matters. Some of the tasks they may need to pay for include hiring someone to value your assets or take inventory.

Picking the right person for the job of executor can make a huge difference in your estate planning process.