The important traits you want in an executor

by | Jul 23, 2021 | Estate Planning

When choosing an executor to your will, you want someone who is level-headed, available and just — if not more — financially savvy than you are. These are just some of the important qualities. Others that stand out are reliability and trustworthiness.

You want the right person in this role who will look out for our estate, abide by your wishes and has the social and political skills to maneuver through disputes among your heirs and settle them. This would be an easy-going person not rattled by much and is full of energy and patience to see this important task through.

Responsible, available and patient

Just what are some of the crucial traits to have in an executor? There are many, and they include:

  • Good financial standing: You want someone who understands investments and money, has a comfortable relationship with credit and has not filed for bankruptcy. This person should have a keen financial savviness that surrounds him or her.
  • Responsible: An organized, effective and level-headed executor knows how to communicate with beneficiaries, make the right – and, sometimes, difficult – decisions and can quickly take charge of estate matters.
  • Patient and confident: Your executor must deal with many different personalities, including beneficiaries (who may not get along) as well as attorneys and accountants. This person must be ready to eagerly role up his or her sleeves and confidently perform these duties.
  • Availability: Settling an estate may take up to a year or more, depending on its size. You want someone in this role focused on the duties such as settling the estate, paying outstanding bills and taxes and knows what government agencies to contact to obtain a death certificate.

Before making this important decision, please make sure to discuss with any prospective candidate whether he or she is willing to take on this role. That person can expect many challenges and many duties while earning your gratefulness.