An estate’s executor holds a sensitive position. They file the will with the probate court, manage the estate, communicate with beneficiaries, pay debts and taxes and distribute assets to beneficiaries. Title 12 of the Delaware Code requires them to put the interests of the estate and its beneficiaries ahead.
Due to their strict legal responsibilities, it’s crucial to choose a reliable party. Here are four qualities to consider:
Trustworthiness
You must trust that your chosen party will perform all their duties competently and act with high integrity. Someone you know well, who knows you well and is totally honest, can be a reliable executor.
Impartiality
An executor should be fair and neutral. They should not act with personal bias or favoritism. For instance, they should not provide updates only to certain beneficiaries while ignoring others. Instead, they should follow all the wishes and instructions included in estate planning documents.
If a person has an existing rivalry with some family members or a history of controlling behavior, they may not be an impartial executor.
Organization
Paperwork is an integral part of an executor’s role. They need to file documents with the court, send emails to beneficiaries and interested parties, pay bills, track expenses and so forth. Errors can lead to missed court deadlines, delays in the process and conflicts with beneficiaries. Therefore, consider choosing someone with strong organizational skills.
Proximity
Location is a practical factor when naming an executor. An executor who lives nearby may have an easier time running in-person errands and appearing in court. Nonetheless, many executors do not live close to the person whose estate they execute.
Naming an executor should be taken seriously. Get more information to choose someone who will administer your estate successfully.