Characteristics to Look for When Choosing an Executor of a Will
Choosing the executor of a will is one of the most important decisions you will make as you prepare your last will and testament. You cannot take this decision lightly. The executor of an estate is not just a close family member who you select in order to honor the relationship you had with that person. The executor has real, substantial, and sometimes complicated responsibilities that must be fulfilled when probating a will. Choosing a trustworthy and competent person is essential to make sure the probate process goes smoothly and to ensure that your heirs or beneficiaries receive their full inheritance in a timely manner.
Zimmer Law Firm can provide the assistance that you need to select the right executor of a will and to make other smart decisions when you make a will. Our legal team will work hard to help make your estate planning process easy and effective by offering you insight into all of the key decisions that are a part of the estate planning process. We also help you to make the best possible use of legal tools so you can make smart choices with your estate plan. Give us a call today to find out more about the ways in which we can help you.
Characteristics to Look for When Choosing the Executor of a Will
When you are selecting the executor of a will, some of the key characteristics that you want to look for include:
- Trustworthiness. Executors have a fiduciary duty to act in the best interests of the estate and heirs, but you still want to make sure you select someone who you can count on.
- Ability to manage your assets. The executor of an estate has to take responsibility for keeping your property and investments safe and well-managed during the months of probate until new owners officially inherit.
- Attention to detail. An executor of an estate must file tax returns, make a full accounting of the estate assets, provide notice to heirs or beneficiaries and creditors, and much more. There are a huge number of important legal responsibilities that must be filled. While an executor of a will should have a lawyer, the executor still has to take on some complicated tasks on his own.
You also must remember that the probate process is going to occur shortly after you have passed away. This means your grieving family members are thrust into a situation where they are forced to cope with complicated legal processes as they try to move on from their loss. You should think carefully not only about who has the characteristics that an executor needs, but also about who can handle this role right after you have died.
Why Does it Matter Who You Select as Executor of a Will?
You do not want your heirs to be forced to bring legal action against an executor, so it matters who you select to fulfill this position. You don’t want the probate process held up as the court is forced to remove an executor who cannot manage your assets properly. You don’t want your wealth lost due to mismanagement and carelessness after your death. You also don’t want the probate process to take longer than necessary, or for problems to arise during this process.
For all of these reasons, you need to make certain you make smart choices when choosing an executor of a will. The executor you select is going to be in charge of winding up all of the affairs of your estate, so it makes good sense to select a person with the willingness and ability to take on this important task.
Getting Help from A Wills and Trusts Lawyer
Zimmer understands the importance of selecting the right executor of a will. We know how important it is to you to have a strong legacy plan and to make certain that your wishes are respected after your death. We also understand how hard you work for your assets, and believe that you deserve to have those assets protected and used to provide support for your loved ones and charities you care about. We will provide the advocacy and assistance necessary to protect your wealth and your legacy by making a smart estate plan.
To find out more about choosing an executor or about other steps to take during the estate planning process, download our estate planning checklist. You can also give us a call at 513.721.1513 to speak with an Ohio wills and trusts lawyer who can help with the selection of an executor, the drafting of a legally valid will, and much more.