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Factors to consider when choosing an executor of a will

On Behalf of | Jan 13, 2023 | Estate Planning

When people in New Jersey start their estate plan, many start with their wills. This document is a very important as it states who will receive people’s property when they pass away. However, people also need to choose who will actually distribute the property to the beneficiaries. These individuals are called the executors of the will and they have a very important job.

People often complete their wills when they believe they have many more years to live. This means they are planning for an event that is far in the future and is usually not at the forefront of their minds. When choosing the executor of the will, it is easy to choose a family member to whom they are close and who they believe will be willing to do the job.

Being the executor of a will can be more complicated than people think though. Their job starts with gathering all of the property of the estate, which can take some investigation. They will also need to handle the probate process and pay any creditors of the estate. Completing all of these jobs can be both time consuming and complicated.

Characteristics of a good executor

That is why people choose executors who have the necessary skills to complete all of these different jobs. People should think about the following characteristics when choosing the executor:

  • Organizational skills needed to properly execute and maintain all of the necessary paperwork
  • People who have the ability to deal with the beneficiaries and stay calm in emotional situations
  • People who will have the time needed to complete all of the tasks
  • People who may have a financial or legal background

People in New Jersey often choose a family member to be the executor of their wills, which can be a good option. However, it does not need to be a family member and people should take time to understand all of the responsibilities of an executor before choosing one. After deciding on the executor, people should also have a conversation with the potential executor to ensure they are willing to do it. These can be difficult decisions and consulting with experienced attorneys could be beneficial.