Tips for Choosing an Estate Executor

As you plan out your estate, one of the considerations you’ll need to address is who you want to be in charge of executing your plans after your death. This chosen person takes on the role of the “estate executor,” and will perform tasks such as paying off creditors, selling your property, distributing assets to your heirs and handling any other legal or financial issues associated with your estate.

Clearly, this is an important job that requires a great deal of trust, so it’s important you take the time to consider who would do well in the role. Here are some of the traits you should look for when choosing your ideal estate executor.

Responsibility: This is the single-most important character trait you should find in your estate executor. Your chosen person does not necessarily need to be an attorney, financial planner or other person who would thrive in the role professionally (though it can be) — they simply need to be someone you can trust to carry out your wishes to the letter, meet all estate deadlines and make hard decisions in a way that honors your intents. Someone you do not believe to be a responsible individual would be a potentially disastrous choice to be your estate executor.
Stable financial situation: Your executor should have a stable financial situation of their own. If they have numerous debts in bad standing, have recently declared bankruptcy or are simply irresponsible with their money, you do not want to put them in charge of handling the financial affairs of your estate after your passing.
Proximity to you: Your executor does not necessarily have to live close to you, but it’s at least something to consider. Choosing someone who lives closer to you will make it easier for them to be able to visit your estate and meet with your attorney. However, many of the tasks an executor performs can be completed from a distance, so this isn’t an absolute must.
Good relationships: If you’re choosing a family member or close friend, you should avoid choosing someone who has bad relationships with one or more of your heirs. This could potentially open up old rivalries and cause unnecessary drama during the administration of your estate. If you believe it will be hard to choose a friend or family member who will be able to mitigate this potential drama, you might look into using an attorney or accountant as your executor instead, as they will be able to act as a neutral third party.
Patience: The job of an executor can be difficult and draining. You want someone who is stable, patient and able to maintain emotional balance. It is not a job for someone who is flighty, easily frustrated or already has too much on their plate.
Have a backup plan: In addition to choosing one primary executor, you should also name a successor who can step in if the executor passes away or becomes otherwise unable to perform the duties. Ideally this person should be younger and in good health.

For more tips about choosing your estate executor, contact an experienced Alexandria estate planning attorney at Speedwell Law, PLLC.

Note: this advice is similarly applicable with regards to Trustees of Revocable Living Trusts. Please consult one of our estate planning attorneys to learn more about Living Trusts.

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Misha Gill is an Alexandria estate planning attorney for his firm, Speedwell Law, PLLC. If you would like assistance in setting up your own will, living trust, and other estate planning documents, Misha can be reached at (703) 553-2577 or [email protected].

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