If there’s one thing that all adults need but many do without, it’s a last will and testament. So if you haven’t yet, schedule an appointment with an estate planning attorney to avoid inheritance problems later on.
Of course, your attorney will also require you to name an executor—the person who will carry out your will’s mandates. Yet how do you nominate someone for such an important task? Listed below are a few tips:
The Right Person
Many people name their spouse, children, sibling, or best friend as their executor, but you don’t necessarily have to. Choose the person who you think will be best able to handle this task.
Seek Consent First
Before nominating someone as your executor, make sure that they are willing first. Remember, carrying out someone’s will is a time-consuming affair, so the person you choose should agree to the task.
Stick to One
Stick to One
Name only one executor. Naming all your children as executors, for example, may incite bickering among them. Furthermore, if papers need to be signed, all their signatures must be secured first.
Drafting a will and choosing an executor are vital to estate planning, and they should be done while you’re still relatively healthy and not under duress. The earlier you do these things, the less you have to worry about your loved ones’ upon your passing.
Drafting a will and choosing an executor are vital to estate planning, and they should be done while you’re still relatively healthy and not under duress. The earlier you do these things, the less you have to worry about your loved ones’ upon your passing.
