What is an Executor … And Why Do I Need One?
An Executor is an individual selected by you in your Will to administer and settle your estate.
The role of the Executor is a crucial one in the probate process, and, therefore, it is vastly important that you established one in your Will.
When selecting your Executor, be sure it’s someone you trust – perhaps a spouse or a sibling. Take into consideration factors such as age, health, geographic proximity and general knowledge of your circumstances, now and in the foreseeable future. As this person will be charged, upon your passing, with settling your debts, distributing your assets and maintaining your property, consider whether he or she is willing, able, and available to tend to your estate.
It’s a good idea to nominate at least one successor Executor, in case your initial choice elects not to, or is unable to serve. And while the decision of whom to appoint as Executor is important, your Will, including your choice of Executor, can be amended at any time prior to your death.
Upon your passing, your Will gets filed in the county of your death, a probate case is opened, and your Executor is appointed to administer your probate estate.
The probate process can be complicated, and fraught with myriad pitfalls. Having an Executor that understands your objectives, has the capacity and desire to see those objectives through, and is a good candidate to bear the trust and responsibility of these duties is critical to getting through the probate process efficiently.
For more than 25 years, the experienced professionals at Erwin Law have been guiding individuals and families through the intricacies of estate planning and the probate process, ensuring their Clients’ wishes are honored.
If you’re interested in learning more, feel free to reach out to Bill Hacker, at 773-525-0153 or at email@example.com.