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Do family members make the best executors?

On Behalf of | Jan 29, 2021 | Estate Planning |

When dealing with matters of the estate, it is easy to feel overwhelmed. Estate planning has a lot of moving parts and a huge number of legal terms you likely never came across before. But it is important to start with a solid foundation. If you do, everything else will go much more smoothly.

Thus, you want to start off on a good foot by picking the best possible executor. But how do you know who makes the best fit?

Personal familiarity of executors

Huffpost discusses what makes a good executor. Many people immediately jump to family members or other loved ones when making this decision. After all, you want someone who knows you well. You want someone who can represent your desires perfectly. It helps if they know your family history and your personal history. This way, they can interpret everything through a lens of familiarity.

But is this the only thing you should focus on? While your comfort is important, experts suggest there are other things to focus on when picking your executor. For example, executors must have a plethora of professional skills. After all, they hold responsibility for carrying out your will. They must step in and act as your representative. They serve as the connection between your legal team and beneficiaries.

The necessity of professional skills

This means your executor should have strong organizational and time management skills. It helps to have experience working with financial experts. They must also have the ability to manage themselves without pressure from outside sources, as they will have no “boss” to turn to.

Sometimes, family members do fit the bill all around. If this happens, there is nothing wrong with turning to them. But if they do not, you may want to keep looking.