By choosing an executor and successor trustee when planning your estate, you will be able to have control over who is handling your final affairs. Choose trusted helpers who are trustworthy and reliable as well as fully capable of handling all of the duties. Take a look at the following information to better prepare for this decision. If you have any questions about how to choose a great executor or trustee, contact an estate planning attorney.
Fully Communicate All of Your Expectations
Communication is key to a successful estate plan; be sure to communicate what you expect from a trusted helper such as your executor and successor trustee. Explain, or have your estate planning attorney explain, the common duties such as communicating with beneficiaries; keeping detailed records; following court orders; working with the estate planning attorney; protecting and managing financial, real property, and personal assets; paying bills; filing and paying taxes; and distributing assets.
Make Sure Your Trusted Helpers are Ready for the Job
If you want to avoid confusion and delay in the future and want your wishes to be respected, you need to make sure that your trusted helpers are willing and able to serve when needed. Allow each trusted helper to think about his or her decision to accept the job ahead of time, so he or she can decide if it’s the right choice. Always name back-up trusted helpers in case your primary executor or trustee is unable to serve.
Make Sure You’re Making the Right Choice
Before appointing an individual, take the time to fully consider all of your options. This isn’t something that you should rush into. Think about the qualities that each potential trusted helper has and if you don’t have a family member or friend that is a good fit, name a professional trusted helper.
If you need assistance communicating your needs to your executor or trustee, consult with a qualified estate planning attorney.
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