The executor of your estate is an important role that you should decide on carefully. The person appointed as executor is responsible for managing your estate after your death and carrying out your wishes for asset distribution.
There are a few things to know when it comes to choosing and working with your executor.
Willing participation is important
One thing many people overlook when choosing an executor is the importance of a pre-selection conversation with the candidate. You want an executor who is comfortable with and willing to take on the role. A willing participant is more likely to be able to handle your wishes as you define them and will not feel a burden from the role.
Ongoing conversations can help
When you choose an executor, have a conversation about your wishes. Make sure that you are clear about what you want for your estate, discuss your assets and beneficiaries and specify any would-be beneficiaries that you excluded. The more information your executor has before your death, the easier their role will be.
Providing copies of your will can help
Any time you review your estate plan and make changes, supply a copy of the revised version to your executor. Providing a copy yourself ensures that he or she has the most recent and correct version of your estate plan at all times.
The relationship with your executor is one of trust and mutual respect. Make the choice carefully and maintain regular communication so that both of you are on the same page.