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What Is an Executor and How Do I Choose One?
Home » Retirement » Preparing a Will » What Is an Executor and How Do I Choose One?An executor is the person that you name in your will to take care of the financial affairs after your death. They take care of the property, pay the bills and taxes and see that the right people receive the items you left to them. If probate court is required, the executor is responsible for handling them or hiring a lawyer to take care of it. When choosing an executor, you should select someone who is organized, responsible and honest so that you have peace of mind that your wishes will be carried out just as you requested.
When choosing an executor, select someone who will be inheriting a substantial portion of your estate. This way, you know that the person has incentive on handling the situation in the most conscientious way possible. Also, talk to the person you would like to be your executor to be sure that they feel comfortable with the task at hand and are willing to accept the responsibility.
Sources:
1. www.futureplanning101.com/estate-planning/types-of-wills.aspx
2. www.nolo.com
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