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How can I choose the right executor for my estate?

| Dec 9, 2020 | Uncategorized |

Being an executor for a person’s estate is a major responsibility. That is why you must make the decision carefully, as the person you choose will be responsible for handling many important tasks.

According to Kiplinger, there are certain traits one must have to ensure they can live up to their duties. Keep these traits in mind when making your choice, so you can rest easy that the person you choose is up to the task.

Make sure the person has a mind for money

You do not need to choose a financial guru to handle your estate. However, your executor must be financially responsible in his or her own life. No matter how you feel about a person or how close you are, if their finances are a mess you should look elsewhere. This could result in your own finances being at odds, which could impact your heirs when it comes to time to disperse your assets.

Pick someone who is responsible

Many of the duties of an executor are time sensitive. That means the person you choose must act quickly when situations arise. Is your choice conscientious about getting to work on time and making sure their job duties are performed exceptionally? If so, they are probably a good choice to handle your estate.

Consider the person’s age when making your decision

Even the most competent person will not be of much help to you if they are unavailable. If you are set on a person who is close to your age, you should also choose a younger successor to ensure your estate is protected. That way, if something happens to your first choice, your second choice will be there to make important decisions on your behalf.

 

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