How to Choose the Right Executor for your Will

Choosing an executor is an important decision. This person will manage your assets, pay your debts, and make sure your beneficiaries get what you want them to have. Here’s how to choose the right person for the job.

1. Trust your Executor

Pick someone you trust completely. They will have access to your personal and financial information, so it’s important they’ll act in the best interest of your loved ones.

2. Good at Organizing

Your executor will have to handle a lot of paperwork and meet deadlines. It’s best to choose someone who is organized and can manage tasks well.

3. Basic Money Skills

They don’t need to be a financial expert, but it helps if they understand money matters. They’ll be managing things like investments and property, so a little financial knowledge is useful.

4. Fair and Neutral

Family dynamics can be tricky. They should be someone who can stay neutral and avoid getting caught up in family conflicts. This helps keep everything fair.

5. Has Time to be Executor

Being an executor takes time. Make sure the person you choose is willing and able to commit the time needed to handle your estate. Talk to them first to see if they’re okay with it.

6. Lives Nearby

It can be helpful if your executor lives close by. They may need to handle things in person, like meeting with lawyers, attending the court hearing, or managing your assets. But if the best person for the job lives far away, that’s okay too—they just might need to travel.

7. Choose a Backup Executor

It’s smart to name a backup in case your first choice can’t do it. This ensures there’s always someone to take care of your estate.

8. No Criminal Record

Ideally, your executor should not have a criminal record. While this might seem obvious, it’s important to note that recent changes to Texas law now allow individuals with criminal records to serve as executors. Specifically, SB1373 of 2023, which amends section 304.003 of the Texas Estates Code, permits those with certain criminal convictions to be considered for this role. However, for peace of mind and to avoid potential complications, it’s generally best to choose someone with a clean legal background.

Conclusion

Choosing an executor is a big part of estate planning. Think about trust, organization, financial knowledge, fairness, time, and location when making your decision. Don’t forget to talk to your choice to make sure they’re ready for the role.