Nominating someone to execute your estate is an essential part of your estate plan. This person will take charge of the distribution of your assets when you die. They are the person who will implement your plan.
If you fail to nominate an executor, a court will decide who does it, but it’s better to choose them yourself. Consider the following qualities as you determine who should fulfill this role on your behalf.
They are honest
You must be able to trust this person, otherwise your beneficiaries may not get what you intended them to.
They can communicate with others
An executor who is honest but hates anyone else asking what they are doing is not going to be a good fit. Secrecy and a lack of transparency can breed suspicion and distrust in others. You need someone who is happy to keep the beneficiaries informed of progress and answer any questions they might have.
They are organized and literate
You don’t need to pick a genius for the job, just someone reasonably competent in math and English and who can work through tasks in order. The sort of person who always turns up on time rather than one who constantly turns up late because they forgot about something else they were meant to do.
They will be willing and able
Your executor will need to give up a considerable amount of their time, so they should be willing to do that for you. They also need to be around, so picking someone who is planning on emigrating or is likely to die before you is unwise.
You can, of course, change your choice of executor as time progresses. And you can always seek legal guidance if you have questions about how to make this decision effectively.