Estate administration can be overwhelming and appear complicated to an executor unfamiliar with the process. The process is supervised by the court through the Clerk of Superior Court’s office and the executor must follow the rules of the court when acting as executor.
Exercising prudence when selecting your executor/s (administrator/s) should be a critical element of your estate planning process. Doing so, will help eliminate hurdles for your beneficiaries and the executor. Be sure to ask the person if they are willing to take on this role and consider an alternate executor in the event the primary is not able to perform their duties.
There are four groups to consider when selecting your executor.
- Spouse or Partner – Most people select a spouse or partner as their executor and in the majority of situations this is a good decision. Who knows you better than your spouse, right? However, if your spouse is in poor health or has difficulty understanding basic finance and legal matters, they may not be the best person choice.
- Other Family – A trusted brother, sister or child is an option. This option often creates strife among family members during an already difficult time. Today, more families than ever are blended, which adds another layer of complexity to consider.
- Friend – We all have a dear friend that has been through life’s ups and downs with us. We wonder if we would have made it through some without them. They can be unbiased and helpful. Can they commit the time required to properly administer your estate as you wish?
- Professional – CPA, Attorney or Trust Company. Professionals have the experience and expertise to navigate the process with relative ease. Their approach is most likely to be business-like, completely unbiased and totally transparent.
Whether you want to discuss your options when you are name executor or administrator of an estate or to get started on an estate plan today, we are here to help.
Contact Us or call our office to schedule an appointment