Choosing an executor for your estate can be one of the most challenging decisions in the creation of drafting your will. An executor will administor your estate and continue to do so until the estate is closed. A will should be part of an estate plan and not “stand alone”. If a will is part of a revocable living trust, then probate and the costs and time involved to administer the estate may be much less in both money and the period of time.
An article in the New York Times in 2011, discusses the qualities for an executor. According to the article, an executor can be a family or non family members. There are advantages and disadvantages to both strategies. In addition, an executor should be honest, well organized and able to work with the family members. The litmus test used by an attorney quoted in the articles is whether the executor files his/her income taxes every year on a timely basis. Clearly, this is one of the most important decisions you can make.
Our law firm can assist you with your estate plan and discuss how best to choose your executor. Please feel free to contact us to set up a consultation to discuss.