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How to Appoint an Executor to Your Will

An executor is a person or company whom you appoint in your will to distribute your estate after your death. In most states, you can appoint more than one executor.

Jasper L. Edwards

 

An executor is a person or company, whom you appoint in your will to distribute your estate after your death. In most states, you can appoint more than one executor. 

The main responsibilities of an executor include: 

  • Collecting all of the assets of your estate
  • Valuing your estate
  • Filing for a grant of probate
  • Ensuring that all your bills, debts, funeral expenses and inheritance taxes are paid using the money from your estate
  • Distributing the remainder of your property in accordance with your will
  • Maintaining a record of your wishes and distributing any estate accounts to the beneficiaries

How to Appoint an Executor to Your Will

The person you appoint to serve as the executor of your will should be ethical and responsible. He or she must also be willing to do the job. In addition, they should also be: 

  • Honest and trustworthy
  • Capable of handling the responsibility
  • Familiar with financial matters
  • Have a reasonable chance of out-living you

Anyone who is above the age of 18 years can serve as your executor. There are also no rules prohibiting you from appointing someone named in your will. In fact, this is a very common practice in most states. The following are some of the people you should probably consider to act your executor:

Your spouse

Younger brother or sister

A close relative like a niece or nephew

Close friend 

Professional executors

Depending on your situation, you can decide to appoint professional executors in your will. Having your estate managed by an expert is always an added advantage. However, using a professional executor might end up costing you a lot of money. 

Types of professional executors

  • Solicitors
  • Accountants
  • Banks
  • Public Trustee’s

Your executor will have the responsibility of carrying out your wishes once you’re gone. Contrary to what most think, this task can be quite complicated even if you leave clear instructions. As a result, you must think very carefully before you make your final decision.

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