The decision of who to appoint as your executor or trustee is a huge one, which is why it’s so important to make the right choice when creating your estate plan.  Remember, this person will hold incredible responsibility for overseeing what becomes of your estate. You want your choice to reflect this.
It’s not unusual to name your spouse as an executor or trustee, but there are other options. You may decide to name one of your adult children, or perhaps choose instead to have a more neutral friend in charge. In some cases, you might even place an attorney in the role. Whoever you choose, you’ll also want to list alternatives in case there is some reason your first (or even second) choice is unable to take care of the duties required.
Here are some additional things to consider when choosing your executor or successor trustee:
- The process of closing an estate can take a very long time, so make sure to choose someone who can commit to following through.
- This person will have access to your finances – and have the opportunity to abuse the confidence you’ve placed in him or her. For this reason, among others, you want to choose someone whom you completely trust.
- There are many details and conflicting interests that will need to be managed, so choose someone who is organized and able to multitask.
- Dealing with the estate requires working with a wide range of people and institutions. Choose someone who can communicate well with all of them.
- Because there are a lot of financial considerations to make, it’s best to choose someone who is responsible with money and able to manage it.
- Furthermore, the person will need to spend time in your home or business, going to court, meeting with attorneys, etc. – so choose someone who is physically able to perform these steps, and preferably living in the area.
Finally, you have to make sure the person you name to handle your estate is willing to take on the job. It’s best to discuss the responsibilities and expectations with him/her to make sure it’s something the person feels up to taking on. Spouses or children may feel they would be unable to do the job in the midst of their grief; others may just not want the responsibility. By discussing it with them before talking with a Brandon estate lawyer, you won’t be adding an extra burden to someone who isn’t able to accept it.
If you have additional questions about creating an estate plan and choosing an executor or successor trustee who will carry out your wishes when you are gone, contact our Brandon law firm at (813) 438-8503 to schedule a consultation.