If you are about to prepare your will, one of the first tasks is deciding who you should name as the executor of your estate.
Executors, or personal representatives, should possess certain qualities that will aid them in managing end-of-life affairs.
Your executor does not have to exhibit amazing business skills, although business experience is always welcome. The ability to make good decisions is vital, so choose someone you trust who has good judgment and will follow your instructions as outlined in your will.
A focus on the job
The post as executor is more complex for some than for others, depending on the size of the estate. Make a list of candidates and approach each one about the executor position to determine who is sincerely interested in serving and will focus his or her energies on the job.
Age and state of health
Many people choose a spouse as executor, which is not always a solid idea. In the first place, your spouse may not want the job, especially if there are significant assets to manage, followed by eventual distribution to a variety of beneficiaries. In addition, by the time you pass away, your spouse may be elderly and not in good health. Choose someone whom you expect to be around at the time of your death and who should still be of sound mind and body.
Someone with common sense will approach the job with an understanding of what to expect and having a plan to accomplish the various steps involved. This is a person who probably makes to-do lists, who will not rush the process of administering your estate and who will not hesitate to ask for help when necessary. Help may come in the form of an accountant, a business or real estate appraiser, and an attorney who can assist with questions and keep the executor from making legal missteps.