Estate planning, which can involve describing how you want to divide your assets after your death, can leave you thinking about who you want making certain decisions.
Learning about the traits that a good executor should have can help you make a choice.
Trustworthy
According to CNBC News, the most important trait this person should have is a large amount of knowledge about what you want to happen with your personal possessions after your death.
This person should be aware of his or her duties and know how to properly communicate with the courts. It is common to choose someone you know well, such as a spouse, family member or close friend.
Willing
You should let this person know you are appointing them as your executor before you make it official. Since this duty could come with the responsibility to make medical decisions on your behalf if you are in a coma or unresponsive, you should include information about what it entails. Give him or her the chance to turn it down if it is too much to do.
Level-headed
Whether this person needs to use your remaining money to pay off your debts or distribute assets to your beneficiaries, this task requires a detail-oriented person. In some cases, your beneficiaries may have questions or concerns about your final wishes.
Having an executor that is financially stable and understands the importance of legal documents can help. An organized and reliable person can submit the required forms and discuss where your assets go with your family or beneficiaries. Picking an executor who exhibits these traits can give you peace of mind.
