You’re young, but you’re often away on business and in situations where there’s a potential for plane crashes, car crashes and travel-related illnesses. You know that something could go wrong, and you want to have someone there to take care of your estate if you pass away and can’t yourself.
Choosing an executor is an important step toward protecting your estate, but you need to select the right person for the job. Here are four tips to help you find someone who is right for the role.
- Responsibility is paramount
The first thing to do is to look for someone who is responsible. Do you have a parent, sibling, spouse or other party around you who you know you can trust to make the right decisions for your estate? Do you know someone who would take on the role with a sense of responsibility? If so, they should be on your short list of people to choose for the role.
- Age and health matter
The next thing to factor to the equation is how old the person you want to appoint is. You should opt for someone who is younger over someone who is older than you, so that there is a higher likelihood that they will be there to take care of things once you pass away.
- Select qualified individuals
Next, remember that some people will not be qualified for the role of an executor, such as those who are living outside the United States, former felons and those who are minors.
- Select someone who is patient
Finally, remember that estate administration can take a lot of time and energy, so the person you select for the role of your executor should be patient. They need to handle your estate at an emotionally trying time, so you want to select someone who you know can perform under pressure.
These are four tips for selecting an executor for your estate. Make sure you speak with the person you’d like to select, so they can decide if this role is right for them and one they’d like to take on in the future.