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Factors to consider when appointing an executor

Posted by Lidia Law Firm, P.C. | Mar 23, 2018 | 0 Comments

When Oklahoma residents put their estate plan together, it is important for them to think carefully about the person who will serve as their executor. According to FindLaw, the executor is usually in charge of the administrative and legal duties associated with your estate, and it is important to pick someone who can capably fulfill these duties.

When people select an executor, they should typically consider where someone lives. It can sometimes be beneficial to have an executor who lives in the area so he or she can maintain the property and appear in court as necessary. Additionally, it is important to consider family dynamics. If people pick a favorite child as the executor of their estate, their other children may sometimes be more likely to challenge the will or argue about the assets they will inherit. People should also make sure that someone is willing to be the executor.

When people draw up their estate plans early in their adult lives, it can be beneficial to review this plan periodically. The American Association of Retired Persons says that you may sometimes become estranged from people over time, and it is important to ensure that your executor is on good terms with the rest of your family. Additionally, people should also take the health and age of their executor into account. If the executor is in declining health, people may want to add a co-executor. This can help ensure that someone will always able to perform the duties of an executor.

Some people may want to choose someone with a financial background to serve as the executor of their estate. Sometimes, though, it is a good idea to pick someone who has a lot of common sense. This usually means that your executor will know when he or she needs professional assistance and will be responsible handling an estate.

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