Estate planning can be stressful for any Arkansas resident. There are a lot of unknowns that you have to plan for and big decisions you have to make.
One of the biggest decisions you have to make when writing your will is who will serve as the executor. The executor is responsible for essentially carrying out your will and last wishes immediately after your death.
Why is the executor a big decision?
Executors are a huge decision because it’s a lot of responsibility and pressure to put on someone. Not only that, but this person will have temporary access to all of your assets and finances.
In an ideal situation, the executor would be a friend or family member that you can trust without a shadow of a doubt to pass on your belongings to the proper beneficiaries. Usually, this person has a proven track record of being responsible with money and making good decisions.
What are some good tips for picking an executor?
It’s easier if the executor lives in the same location as you, but it’s absolutely not a requirement. An executor can serve the role from anywhere in the United States.
It’s also smart to be aware of any grudges or drama around the would-be executor. For example, you might not want to pick an ex-spouse or distant relative who seems to have problems with your entire family.
Ideally, you’d tell your would-be executor that you’re making them an executor of your will. You also might want to have multiple executors picked out in case your first choice says no or passes before you.
What are some other things to keep in mind?
Estate planning is a long process that never feels good at the start. But proper estate planning can make it easier for your friends and family after your death, as well as ensure your belongings don’t get stuck in probate court.