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What mistakes can you make while choosing an executor?

On Behalf of | Sep 19, 2022 | Estate Planning

As you plan your will out, there may be many thoughts running through your head about who you want to choose for your executor.

Since this person is in charge of your assets and debts, you need to pick someone with certain personality traits and skills.

Not looking at their history

According to Kiplinger, if your choice of executor has a history of misusing money or paying bills late, then they may not be a good fit for your estate. An executor needs to take the responsibility seriously since they are in charge of paying off your debts, as well as handling your property and heirlooms.

Worries about an executor potentially using the estate’s funds for personal spending should also be a factor when deciding.

Not thinking about their age

While it may seem right to pick someone older and more mature, there is a limit when it comes to choosing your executor. Having at least one backup option in case your first choice dies before you do can help you feel more confident in case of an accident or illness.

Not asking first

Being an executor also requires you to stay organized and aware of deadlines. Having some kind of previous experience with legal procedures can help, but it is not necessarily needed in order to do a good job.

Some people you think of may not want this responsibility, which means you should talk to your choices before appointing anyone without their approval. Picking an executor you trust, including one that can handle money correctly, is important.

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