Appointing someone as your estate executor (officially known in Georgia as a personal representative) is not a task to take lightly. It is a role that comes with a lot of responsibility, and someone who is not up to that responsibility could make things a lot more difficult for your intended beneficiaries.
Below are some of the qualities to look for when choosing an executor.
They must be trustworthy
Executors have been known to abuse their power for their own gain. If nobody spots this and files action with a court to stop it, the beneficiaries you intended to leave your wealth to could be left with much less than they should receive.
On that note, good communication skills can be a useful characteristic in an executor. Regular communication and responses to questions and concerns can help to reassure others that everything is being carried out as it should be.
They must be organized
Executing an estate involves many different tasks that often need to be completed in a particular sequence. There are also deadlines for some of these tasks. Someone who lacks the necessary organizational skills is more likely to make mistakes, delay the distribution of the estate to the beneficiaries or cause assets to be lost through fines or other penalties.
They must be available
Likely, you don’t plan to pass away any time soon, so you need to think about who will still be around when you eventually do. That may rule out a sibling who is much older than you or a friend who intends to move to a different continent.
Remember, though, that you can and should revise your estate plan in the future. So if someone who might not be a great long-term option is the best option you currently have, you could still designate them for the time being as long as you regularly review whether they are still a suitable choice.
After choosing a personal representative and getting their consent to take the job, you need to document it properly. Having experienced legal guidance throughout the estate planning process is crucial to creating a sound plan that reflects your goals and wishes.