Florida residents like you work hard to build your estate up over your lifetime. Why would you want to risk it through sloppy estate planning? It is crucial to build your estate plan up from a solid base.
This is where choosing your executor comes in. The executor is a crucial component of your estate plan. If you want to start with a strong foundation, this is where you must begin. But how do you know which executor is right for you?
Leadership qualities in an executor
Forbes discusses ways to select an estate executor. Common wisdom states that family members often make the better executors. But how true is that? You may feel tempted to lean toward someone due to relation, but this might end up a mistake.
Rather than choosing someone based on their ties to you, pick an executor based on their merits. You can look at two primary categories for this. The first is their skills in a leadership position. They should have strong organizational skills. Social skills are a plus too, since they will talk to your lawyer and bereaved loved ones. They should prioritize well, mind deadlines and have the capacity to work without guidance.
Sharing core beliefs with your executor
The second category involves how well they see eye-to-eye with you. You may feel most comfortable with an executor that holds similar core beliefs. This helps ensure they will act in a way you would agree with after your death.
Sometimes, a relative does succeed in both of these categories. Other times, your best option may actually lie in a family friend or another loved one. You must make the judgment call yourself.