During your estate planning you will be required to select an executor for your estate. This individual will essentially be in charge of anything under your estate, including real estate, retirement funds, and stocks. Therefore, when it is time to select an executor of a will in Essex Junction, you need to ensure that you make the right decision.
Executor of a Will in Essex Junction
The most common selection during estate planning is a spouse. This is because the spouse already knows the estate, assets, and the heirs. Unfortunately, there are situations in which a spouse is not the best option for your estate planning selection. For example, if your spouse has a health condition or is currently incapacitated, he or she will not be able to perform all of the executor duties, which means a secondary person will be selected.
When a spouse cannot be used as an executor, the next logical choice is the children. It is important to not select minor children or those who might still be a minor after your death. Most estate planning attorneys will tell you that just because a child is your oldest does not necessarily make him or her suitable to be your executor. Consider the child’s behavior, habits, and overall responsibilities. If he or she is someone you would trust with your estate now, then they might be a good option, but age should never be the only factor.
When you select your executor during estate planning, make sure to select a secondary or two. This will prevent the court during probate from having to select a different individual if your original executor is unavailable or incompetent to serve your estate.