Use trust and common sense in choosing your executor

When you are preparing your will, choosing your executor will be a top priority. Right away, you may think about naming your spouse for the task, but is this a good idea?

There are several points to consider about the person you choose, and attributes you might admire in a relative or good friend will likely play a role in your final decision.

The duties of an executor

Your executor will be responsible for seeing that your wishes are carried out as you instruct in your will. He or she will ensure the proper protection and ultimate distribution of your assets. The executor will also pay your final debts and taxes out of the estate.

The executor candidates

The duties of an executor are similar to those of a chief administrator, and the person you select must be someone you trust implicitly. Your top candidate might be an individual with a sound business sense who is not put off by forms and other types of paperwork. Some people make the mistake of choosing someone who is older and more experienced, but an older person may not survive you. Be sure to choose someone who is in good health, who is younger than you are and who will be around to serve in the executor capacity. Keep in mind that common sense will be a good attribute for your executor to have. In the administration of your estate, he or she should know when to ask for guidance from a professional. For example, an accountant can advise on taxes while an attorney will be able to provide guidance on all legal matters and ensure that your executor avoids any missteps.

The help you provide

Once you have chosen your executor and that person has agreed to serve, you can make his or her job easier by providing a detailed list of your assets and their locations. Once in possession of your will and other important documents, your chief administrator will have a good idea of the complexity of the job ahead. He or she will appreciate any help you can give in advance.

 

No Comments

Leave a comment
Comment Information
EMAIL US FOR A RESPONSE

Do You Need Legal Help?

Bold labels are required.

Contact Information
disclaimer.

This email transmission and the accompanying attachments contain information from Brudvik Law Office, P.C., which is confidential and/or legally privileged and covered by the Electronic Communications Privacy Act, 18 U.S.C. Sec. 2510-2521. The information is intended only for the use of the individual or entity named on this email. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or the taking of any action in reliance upon the contents of this email information is strictly prohibited. In this regard, if you have received this email in error, please delete any and all copies of this email. ----- IRS CIRCULAR 230 NOTICE ----- Pursuant to requirements related to practice before the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing or recommending to another person any tax-related matter.

close

Privacy Policy

Firm Information

Brudvik Law Office

Mayville Office
231 9th Avenue SE
P.O. Box 547
Mayville, ND 58257

Phone: 701-786-6177
Fax: 701-788-4243
Mayville Law Office Map

West Fargo Office
730 13th Ave E
West Fargo, ND 58078

Phone: 701-786-6177
Fax: 701-788-4243
West Fargo Law Office Map

Finley Office
300 Central Avenue
Finley, ND 58230

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

Hillsboro Office
1 N Main Street
P.O. Box 847
Hillsboro, ND 58045

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

Grand Forks Office
2810 19th Ave S
Grand Forks, ND 58201

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

Chandler Office
3185 S Price Rd
Suite 7
Chandler, AZ 85248

Phone: 701-786-6177
Phone: 480-374-1651
Fax: 701-788-4243
Map & Directions

Grafton Office
640 Hill Ave
Grafton, ND 58237

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

Fargo Office
203 8th Street S.
Fargo, ND 58103

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

East Grand Forks Office
308 DeMers Ave
East Grand Forks, MN 56721

Phone: 701-786-6177
Phone: 218-773-6841
Fax: 701-788-4243
Map & Directions