While writing your will and planning out who will take care of your estate, you may also begin to think seriously about who you can choose to fulfill your wishes.
Choosing a quality executor can have an important influence, so knowing what traits make for a good choice can help you.
Responsible with money
According to Kiplinger, an executor needs to know how to handle large amounts of money and make intelligent and respectful decisions when necessary. Since part of this job includes paying off your debts after death and dealing with taxes and property, you need someone who will take this task seriously.
Making sure to discuss the importance of this position when talking to potential choices for your executor is important.
Connected to your loved ones
Being able to diffuse conflicts and handle emotion-filled arguments is important for executors who are handling assets and heirlooms. Some beneficiaries can disagree about who gets what or even have disagreements with what you wrote in your will.
Choosing someone who can keep a cool head and politely discuss these important issues without starting new arguments will help the process. Many people choose someone who personally knows their family and friends.
No financial issues
If someone is struggling with bankruptcy or other financial problems, then that person may not be a good fit for a job as your executor. An executor needs to qualify bonding, which is a form of insurance that helps protect beneficiaries, and bad credit or no credit can prevent someone from approval.
Choosing a close friend or relative that knows you well and can handle your assets and wishes is important when looking for the right executor.
