CHOOSING THE RIGHT PERSON TO MANAGE YOUR ESTATE

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Deciding who will handle your estate after you’re gone is a big deal. Whether it’s the trustee for your trust or the executor for your will, this person will make sure your final wishes are carried out, and your money and stuff are taken care of. So, it’s super important to pick the right person. Here’s how:

1. Trustworthiness is Key

trustee

The trustee/executor has a big job—they’ll be in charge of your money and make sure everything is done the way you want. So, it’s important to choose someone you trust completely, to be honest, to do the right thing, and always think about what’s best for you.

2. Check Their Skills and Experience

Being a trustee/executor can be tricky, so you need someone who knows what they’re doing. Look for someone good with money, organized, knows a bit about the law and taxes (or is willing to get help with those things), and can make tough choices when needed. Don’t just pick someone because they’re family.

3. Think About the Time and Effort

Being a trustee/executor isn’t easy—it takes a lot of time and energy, and sometimes, tough situations, like arguments between family members, must be dealt with. Make sure the person you choose is ready and able to handle the job for the long haul, even if it’s not always fun.

4. Consider Having More Than One Trustee

If you can’t find one perfect person, think about having two or more trustees who can work together. They can have different skills and keep an eye on each other to make sure everything’s done right. Maybe one could be a professional trustee and the other a family member.

5. Get Professional Help for Complex Estates

For really big estates with lots of complicated stuff, hiring a professional trustee who does this for a living might be best. They might cost more, but they’ll be impartial and relieve your family of pressure.

6. Talk It Out Before Deciding

Before you pick anyone, talk to them about the job and make sure they’re up for it. It’s important that they understand what they’re getting into and agree to do it properly.

Remember, take your time choosing the right person. Picking the wrong trustee or executor could mess up all your plans for what happens to your stuff after you’re gone. So, choose wisely!

From the desk of Certified Paralegal Terrie O’Donnell to attorney Brandon McGee

Terrie O'Donnell
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