What to look for in an estate executor

Your estate executor is the person who will be in charge of reading your estate planning documents and following the instructions that you have listed within. Say that you have two adult children and you want to divide your financial assets between both of them. The estate plan may outline your intentions, but is the estate executor who inventories these accounts and then splits them up between the beneficiaries.

As such, it’s important to find the right person. Here are a few things to look for.

Responsibility and attention to detail 

To start with, this person needs to be very responsible and dedicated to accomplishing the goals set before them. They also need to pay attention to small details. Administering an estate can be a complex and technical process, and you need someone who is focused and intelligent enough to handle it.

Proximity to your family

Although some things can be done online or over the phone, many steps need to be taken in person. This also could be an urgent situation where the estate executor suddenly has to begin performing these duties without much warning – such as after an unexpected passing. It is often best to choose a person who lives relatively close by.

Willingness to take on the role

Finally, remember that being an estate executor can be hard. Not only is it intellectually complex, but it can be emotionally difficult, especially if a direct descendent is named as the executor. Once you choose the person who you think would be best for the role, be sure you talk to them to ensure that they are willing to do it.

Naming an estate executor is just one part of estate planning. Take the time to carefully consider all the steps you need to take.