The person you name as executor of your estate will have a significant influence on how smoothly, speedily and accurately your estate plan is implemented. Hence, it is worth taking your time to pick the right person.
Here are some tips to help you find them:
Start with their age
There is little point in choosing someone older than you, as, unless you know you are likely to die soon or younger than usual, there is a good chance you will outlive them. Even if you don’t, they might not be mentally or physically capable of doing a good job if old age affects them by the time they are called into action.
While you could pick someone of a similar age to yourself, picking someone younger reduces the chance you need to replace them later.
Think about their qualities
Trustworthiness and reliability are crucial in an executor. Good organizational capabilities and good communication skills are also needed. While calculators can make sums much simpler, you’d also want someone with a half-decent grasp of math.
Consider their availability and willingness
Maybe your younger sibling, for example, has all the qualities you need in an executor. If, however, they have a very busy life, be it due to work, having multiple children or something else, they might struggle to fit executing your estate in among all their other commitments.
By the same token, if they are considering moving to the other side of the country, or out of the country, that would also make them less available for the post. Technically they could still do it, but it would be much less convenient for them.
Once you find someone and they agree to take on the role, your next step is to learn how to put it in writing.