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Choosing an Executor For Your Will

Posted on in Family Law

Wheaton Wills Attorney

Many people do not look forward to preparing their will because they feel it is a morbid practice to lay out what will happen when you die. Some families find themselves tied up in lengthy and expensive court battles after a loved one dies because of this line of thinking.

Even if you dread making a will, it is critically important in order to ensure your estate is taken care of in the manner you want after you pass away. Creating a will includes various steps, such as specifying who will receive your property and assets and if you have children who are minors, who will take care of them. 

You also want to choose an executor for your will. The executor is the person who makes sure your wishes are carried out and who manages your estate. You want to pick an executor who can carry out the responsibilities properly and not be overwhelmed if matters related to your estate are complicated. 

What to Look for in Your Executor

Executors may handle a significant number of responsibilities in executing your will. They might have to keep track of all your assets, work with attorneys or accountants, and determine the valuation of your assets and liabilities. The work may also last for an extended period of time, depending on how complicated your estate is. 

Due to the detail-oriented nature of executing an estate, your executor will need to be someone who is very meticulous and responsible. It would also be beneficial to look for someone who is mature enough to handle all those details, and who will likely outlive you. It would also make the executor’s job easier if they know your family’s situation and how you would want any disputes resolved. 

It is common to have a family member serve as executor. This may be a good idea in some cases because they will obviously have knowledge of your situation. However, it may be negative because they are closer to the people who are the beneficiaries of the will and they could make emotional decisions. If a sibling is named executor it could also lead to resentment among other siblings who were not chosen. 

Contact a DuPage County Will and Trust Lawyer

Working on your will can be complicated and stressful. If you would like to begin drawing up a will, the Wheaton estate planning attorneys at Anderson & Associates, P.C. can guide you through the process and make sure your estate is properly taken care of. Contact us today at 630-653-9400 for a free consultation.

Source:

https://www.forbes.com/sites/robclarfeld/2018/05/16/choosing-an-executor-for-your-estate/#13ec38046320

 

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