Along with developing a will and trust, you must also choose an executor for your estate. This person will oversee your affairs after you are gone, settling your debts and making sure heirs receive assets according to your wishes.
Being an executor is a big responsibility, so you want to rest assured that you have chosen the best person for the job. To help in your decision, AARP offers the following tips.
Choose a younger person in good health
Even a skilled representative will not be much help if he or she is not available after you die. That is why you should pick a person younger than you who does not have any major health issues or illnesses. You can also choose a successor or imbue your executor the authority to choose a person if he or she is no longer able to fulfill the duties.
Make sure your selection is responsible
Financial knowledge definitely helps when handling an estate, which is why some people choose a bank to oversee the process. If you choose an individual, make sure the person is responsible and level-headed enough to seek out professional assistance when it is necessary.
Revisit the topic through the years
The work is not complete once you have made your selection. Changes in your family life or major events can alter how you feel about your executor. Your executor may also face a situation that no longer enables him or her to serve your needs. Check in throughout the years and be ready to make updates when warranted.