Austin Probate Lawyer

The Executor of Your Will - Why You Should Choose Carefully

So you’ve considered the benefits of estate planning and have begun to put together your will. You’ve taken into account all your assets, made decisions about your heirs and beneficiaries, and tailored the distribution of your property to your satisfaction. After all this, there is one more factor you must carefully consider – who will you name as executor?

What is an Executor?

An executor, sometimes generically known as the “personal representative” of an estate, is a person who “executes” the provisions of a will. In other words, the executor is the person responsible for making sure the directions you gave in your will are faithfully and accurately followed. Without a trustworthy and competent executor, your will, however carefully written, is nothing more than a piece of paper.

The Tasks of an Executor

Typically, an executor is obligated to carry out several tasks as part of their role. In most cases, for example, the executor will be the one to present the will itself to probate, including dealing with any additional legal paperwork that may arise. He or she will also be responsible for paying off any debts owed by your estate, including notifying creditors of probate proceedings. Other jobs that your executor will handle include:

• Filing tax returns / Paying taxes
• Paying ongoing bills
• Resolve credit cards, bank accounts, etc.
• Notify government agencies of probate proceedings

On top of all this, your executor is entrusted with the management of your entire estate during the probate process, and will need to supervise the distribution of your property according to your wishes. In these matters, he or she is bound by a very high legal standard called fiduciary duty. This requires him or her to act in the best interests of your estate at all times. Although legal ownership of your estate will belong to your executor at this time, by law he or she may not use that power for personal gain. That being said, it is a good idea to select your executor carefully to avoid any disputes or complications in the future.

A Trusted Individual

An executor can be anyone. He or she does not have to be a lawyer, financial expert, or have any sort of special training in order to qualify. When choosing your executor, however, be sure to consider the qualifications which do matter: Is he/she trustworthy? Does he/she have good judgment? Will he/she be impartial in the execution of your will? Remember, after your death, your executor will be in charge of making sure your wishes are carried out. Choose wisely.

For more information regarding your will, your estate, and planning for the future, contact an Austin probate lawyer from Slater & Kennon. Call 512-472-2431 today.