There are many key decisions you must make during the process of putting your estate plan together, and chief among them is who will serve as your estate executor. You need to approach this process thoughtfully and ensure that the person you choose is the right fit for the job as well as interested in the responsibility. Since an executor plays several different roles in the management of your estate, you need to be aware of this when conducting your planning so as to choose the right individual. Bear in mind that if you don’t know someone personally who fits or is interested in this role, you can approach an attorney or other agent, like a bank.
In order to choose someone for this position, consider looking for an individual who:
- Understands your estate planning goals and is committed to carrying things out the way you wish
- Already has or is capable of forming a professional relationship with your beneficiaries for the purposes of disbursing your assets
- Is detail-oriented and has some kind of background or interest in financial management or taxes
- Is a “get it done” type of person who sees projects from start to finish
- Is interested in the position and likely to outlive you
It’s always a good idea to name a backup executor as well in the event that something happens to the first person you appoint. If you have questions about selecting an executor or other issues that come up in the process of planning your estate, communicate with an experienced Ohio estate planning attorney.