When creating a will, you can choose who will manage your estate after you are gone. This person, known as the executor, will oversee the management of your assets, payment of your debts and distribution of your property as you wish.
Many people are under the impression that their executor must be a family member. This is not always the case. Your executor can be a non-family member, and sometimes, this might be the better choice.
Not a legal requirement, only a tradition
It is common to choose a family member, say the eldest child, for the role. However, it is not a legal requirement in most states, including Georgia. Anyone can be your executor as long as:
- They are at least 18 years old
- They are of sound mind
Generally, your executor should have no criminal records that can potentially hinder the execution of your wishes. While you can select someone outside Georgia, it can also be ideal if they live locally.
These legal requirements do not specify family ties. This means you can choose a trusted friend, a professional advisor or even a bank or trust company to serve as your executor.
The key is to identify someone responsible, trustworthy, and capable of managing the tasks involved. The tasks can last several months or years, so the person must be willing to take on the role. If you do not name one, the court typically appoints a close relative.
Why consider a non-family executor?
Choosing a non-family member can have advantages. For one, a non-family member may be less emotionally involved, leading to more objective decisions. Perhaps you prefer a professional with experience in estate management. Sometimes, selecting a neutral party can also prevent disagreements among relatives.
Whatever the reason, the decision of whom to name as your executor is a personal one. Still, it is best to seek legal guidance when necessary. This way, you can appoint someone you trust to fulfill your wishes and manage your estate effectively.