Planning for your future can often involve sitting down and thinking critically about your assets and where they will go after your death. Estate planning, which often includes making wills and trusts, can feel overwhelming at first but it does not have to be a confusing process.
When writing out your will, you should make sure to choose the right person to be the executor and fulfill your wishes.
Respecting your savings
According to Kiplinger, this person needs to know how to use money wisely. If they cannot spend the estate’s money in a responsible way, then you may worry that they could waste it during probate. They should not take funds from your personal assets to use on items or processes that are not related to the estate.
Keeping your family calm
An important aspect of being an executor is knowing how important it is to communicate respectfully and calmly with beneficiaries and family members. These people are going to be grieving and may have important questions about what assets or inheritance they will get.
Some may even have major disagreements about what was in the will, which this person will have to resolve in a way that fits your wishes.
Staying aware of deadlines
When dealing with the court system, executors need to pay off your debts or taxes on time and work with other professionals during probate. This means they need to meet deadlines and stay organized throughout this process.
Picking a person you trust and know as your executor can help you as you write out your will.
