Choosing a responsible, trustworthy trustee and executor to respect your requests when you are not around can be a daunting task. They will have the responsibility of carrying out your estate plan after death, distributing the inheritance to your beneficiaries, closing accounts, and selling property. Many people choose to have their children or spouse to oversee their plan. Although less common, others may choose to appoint an attorney or professional trust company to be their trustee or executor instead of a family member or friend.
Here are a few things to keep in mind when choosing who will oversee and carry out your wishes:
- Choose someone who will be available and consider age, health, and other possible interferences such as an intensive job or a growing family
- Choose someone trustworthy
- Choose someone that truly understands and knows your wishes
- Are they organized?
- Do they have good communication with others?
- Do they live close by or will they be able to travel?
- Consider those in good financial standing
- Are they able to remain civil and keep the peace of their family even when challenged?
- If you aren’t comfortable appointing a family member or friend, consider choosing a legal professional
- Periodically review your choices in your estate plan, as your choices may change over time
If you want to review your trustees or executor or make any changes to your plan, send us an email to book an appointment!
