Are you a resident of California who is starting to work on your will or estate plan? If so, have you considered who your estate executor will be? This is one of the most important questions you must answer. The executor for your estate is a crucial part of estate planning. This decision may make or break how smooth things go after your passing.
Forbes talks about signs that you are choosing the right executor for your estate. There are several components about your executor that you should consider. They include:
- Professional skills
- Time management and availability
- Personal code and principles
- People skills
It is important for an executor to be professional. This means being punctual, on top of estate work and good at communicating. They are in charge of administrating your estate. This puts them in a position of power that they should know how to use well.
Related to that, they should have an open schedule. Managing an estate takes years in some cases. No matter how good of a fit you think someone is, you should not choose them if their schedule is not accommodating. For example, you should not select someone who is starting a family or a new business endeavor. You should not pick anyone who is an active member of the military either.
Your executor should have principles, moral codes and values that align with yours. They will make decisions on your behalf. If you know that they will make the same choices you would, you can rest easier. Finally, they will communicate with your loved ones and lawyers. This means they should have good people skills.