Top Qualities to Look for in a Good Executor

Estate planning involves making significant life decisions that will likely impact your loved ones for years to come. While designating your assets, establishing benefactors, and drafting your will are important parts of the process, you'll also need to select an executor.

An executor's obligations are vast and range from making funeral arrangements to ensuring your dependents are cared for and administering your assets according to your will. As such, the job of executor is a significant commitment, and choosing this person wisely can ensure your assets are well-managed. 

If you're currently involved in estate planning, a wills attorney in Daytona Beach can be an excellent resource to ensure you make the right decisions. When selecting an executor, it is important to evaluate certain key factors:

Trustworthy

Because an executor will handle sensitive information about your assets, you must trust this person to make significant decisions on your behalf.

An executor must follow the terms of your will, despite what your loved ones may want. Because they'll have great power and control over your assets, your executor should be someone you can count on to act impartially.

Responsible

The role of an executor requires substantial:

• Record keeping
• Accounting
• Correspondence
• Asset management

So, you will want to designate a responsible individual who you know can navigate the complexities of an estate and work alongside attorneys and financial planners in your best interests. 

Impartial

There may be a conflict of interest whenever you appoint someone to manage your assets. When it comes to executors, you'll want to designate someone who is impartial and can make sound judgments without getting involved in family dynamics or business dealings.

Appointing someone with a conflict of interest can result in negative results when fulfilling your wishes after you pass.

Willingness 

Not everyone wants the added responsibilities that come with overseeing an estate. When you choose an executor, make sure it's someone who has the time and willingness to tackle the job. When someone is eager to help, you can rest assured your assets are likely to be under better supervision. 

Location

When you appoint an executor, you'll want to choose someone who can easily access your estate and work alongside any beneficiaries.

Consider any logistical issues that may arise if you select someone who lives abroad, speaks a different language, or lacks U.S citizenship. Administration of your estate can become particularly difficult when the executor has extra obstacles to overcome. 

Age and Health

Your executor should be someone who can perform their duties. When you appoint someone of advanced age or with ongoing health problems, administering your estate can become complex and may delay the disbursement of assets.

It's wise to select an executor in good health who can carry out their job without any potential setbacks due to age or medical concerns.

Partner with a Wills Attorney in Daytona Beach

Consulting with an attorney can be a great resource if you're working on your will. Going through probate in Daytona Beach may seem like a daunting process, but a dedicated lawyer can help you at every stage of your estate planning journey.