Selecting an executor is a difficult job because they hold the most power and responsibility of anyone else involved in your estate plan.
To that end, you want to pick the best possible person who can juggle the responsibilities and successfully fulfill the role. But who exactly makes for the best executor?
Tasks executors handle
Forbes discusses the duties assigned to estate executors. First, executors will handle all matters related to your funeral. This means they put together any service you may want and handle your body in accordance with your wishes.
They also handle any outstanding financial matters. This means stopping the bills that are no longer necessary, such as internet service or magazine subscriptions. It also means continuing to pay for necessary bills, as well as preparing to pay off any outstanding debts. They file your last tax return, too.
They also have the difficult task of handing out assets and other property to your beneficiaries in accordance with your will. Not only can this result in some struggles due to beneficiary issues with the divisions, but it is also difficult to handle people in a state of mourning.
Skills executors need
Thus, an executor should have strong leadership and communication skills, organizational skills, time management skills and the ability to make tough executive choices in high-pressure situations.
They should also have time to spare, as the entire process of probate can take several years. Thus, the best executor is someone who will have your best interests at heart while also following your will and wishes, but they still have these aforementioned traits, too.