How should you choose your executor?

On Behalf of | Mar 19, 2022 | Estate Planning

Finding someone who will properly take care of your last wishes in your will, as well as pay off your debts or other fees, is important.

One way to make sure that your executor is ready for these tasks is to look for certain personality traits and habits.

Responsible with finances

According to Kiplinger, your executor should not have ever gone bankrupt and also needs to have a solid credit history in order to fulfill this role. In order to get bonded, a process that includes insurance that protects against executors stealing money from beneficiaries, this person needs to prove they have a good financial record.

Talking about these guidelines with any potential candidates for your executor can help you better understand if they are a good fit.

Calm and reasonable personality

Part of the job of an executor is dealing with other people, such as beneficiaries and the courts. By choosing someone who can stop the drama before it starts and knows how to politely work out problems, you can avoid stressful situations during probate.

Some beneficiaries may have questions about what heirlooms they receive or become anxious during this process. Your executor should know how to discuss these topics intelligently and respectfully to avoid fighting between beneficiaries.

Understanding of time management

Keeping track of important forms and remembering to pay fees on time is an important part of an executor’s job. If someone is constantly late and is not willing to fill out forms or deal with creditors, then you may not want to pursue them as an option.

Choosing an executor who knows how to communicate clearly and takes care of their finances is a good step forward.