What Makes a Good Executor?

We’ve been telling people for a while now that you need a will.

Read more here—> https://www.jacochranlaw.com/reminder-you-need-will

Don’t just take our word for it. Here’s even more: https://www.thebalance.com/why-you-need-a-will-1289264

Likewise, you can find many more reasons why you should have a will anywhere on the web.

For those trying to do the right thing, after beneficiaries, the next question becomes who will serve as executor? This is an important decision. But before you decide, we’ve created this post to help you think about what makes a good executor.

Family

Most people automatically select a reasonably responsible family member to serve as executor of their will. Usual suspects include spouses, siblings, parents, children or close cousins. One word of caution: you should select at least one person younger than you. After all, not to be rude, but your executor might not outlive you if they are older.

Close Friends

Not everyone has family they can trust. This makes “families of choice” a more viable option to execute a will. Sewing up a clear will and executor clause becomes even more important if there are next of kin. The good news a will can cover that base for you.

Attorney or Other Trusted Professional

Sometimes for a variety of reasons, a person does not have trusted family or friend to name as their executor. Sometimes they just want to minimize any squabbles by putting an independent third party in charge of executing the will. The downside of this arrangement is that your estate will pay a fee for their services.

Limitations

If the person you name as the executor lives in another state, you may need to check state laws. Some states have special requirements about family members, bonds to protect heirs from mismanagement, or the appointment of in-state agents. Each state will also set executor fees for third party management, depending on the size of estate.

Replace Only if Necessary

The bottom line is you want to choose an executor who is mentally and financially stable to do the job. You have to be able to trust they will carry out your wishes as outlined in your will upon your death. If a situation changes that no longer makes your named executor the best option anymore, you can create a codicil. A codicil serves as an amendment to the original will which could name the new executor. You must have it validated just like the original will with two legal witnesses. Placing your trust in an executor to carry out your wishes after your death is no small matter. If you need help putting together a will or want advice on selecting an executor, relax!

Finally, we know that every client has unique situations. However, we take the time to understand your needs and wishes. Then we’ll offer advice on your best options. Call John A. Cochran, Esquire, in Greensburg at 724-216-0704 or use our online form to schedule a free consultation.