Selecting an Executor: Communicate, Confirm, & Disclose

So, you’re creating an estate plan, huh? Awesome! I’m so proud of you! You’re off to a great start. Oh, but wait! Did you communicate with the person you’ve selected as your executor? Yes, I know, we’re such brilliant people but every now and then we forget to cover the basics. This is a short blog in regards to making sure we consider and complete some very minute, yet key elements in our estate planning process.

Whom Should I Choose…

When selecting an executor to administer your estate, be sure to choose wisely. I know you know this, but sometimes people and relationships change. You want to select the best person to represent and communicate your intentions to your beneficiaries. So, consider the following:

• Is this person dependable?
• Is she trustworthy?
• Does she have a positive relationship with your family and friends?
• Is she timid, or will she boldly carry out your wishes?

These are just a few things to consider.

Communicate

You’ve weighed your options and carefully selected an executor. But did you communicate this decision to your selectee?  Meaning, did you tell her she’s been specially chosen to administer your estate? If not, it’s time to have a conversation.

Confirm

Great, you told her she’s been chosen. But did she agree and confirm her acceptance of this role? Sometimes people have a hard time saying no when it comes to such sensitive matters. Perhaps, she’s thinking “I’ll just get Johnny to take over for me….”  Maybe she doesn’t realize it, but there’s a reason you did not select Johnny for this assignment. It’s a sensitive conversation, yes, but it’s a necessary one. So, confirm that the person you’ve selected as your executor is willing to accept the responsibility of this role.

Disclose
Lastly, now that you’ve communicated and confirmed acceptance by your executor, it’s time to disclose your secret hiding place. Please don’t make it a treasure hunt. Tell your executor where she can locate your will and other important documents upon your passing.

Try not to overlook these simple steps. Make it easier on your loved ones by creating a plan and communicating that plan with someone you trust.

I hope you found this helpful. And as always, feel free to contact Carter Law for assistance with your estate planning needs: (443) 205-1432.