There has never been a plan that has perfectly withstood the act of implementation. That includes estate plans. Because of that simple fact, it is vital that you select an executor who will minimize the possibility of a lawsuit.
The basic duties of the executor are straightforward. However, problems can arise if the executor acts negligently and ignores the written acts of the will or makes mistakes in carrying it out. These possibilities can leave the estate or the executor open to legal action. For that reason, you must choose the right person for the job. But who is that?
The ideal executor is...
- Organized:For exceedingly large estates, with trusts to administer and large properties to manage, you will need to select someone who has mastery over juggling many duties. They must be punctual, reliable, calm and ready with all the answers for your heirs.
- Responsible: This responsibility is beyond mere respect for rules, but it goes to a deeply seeded reverence for doing the right thing. They will at times be out on their own, so they must be able act in ways you would find proper, without your explicit guidance.
- Trustworthy: If your executor cannot gain the trust of your heirs, it will not matter how organized or responsible they are. The door will be open for every action they take to be questioned. This will be a sensitive choice, to be sure, but the right executor will be able to relieve a great deal of stress for your family.
A not so simple job
Taking care of an estate should be simple, but if you choose the wrong person for this delicate job, problems can get out of control and end up in court. And once in court, estate litigation can turn into bitter, divisive family problems. The right executor might make all the difference.