Planning your estate will require time and patience. A reliable executor can assure that your affairs will settle according to your wishes.
The person you choose to fill this role should have an adequate understanding of your strategy and intentions. Looking for specific characteristics will help you narrow your search to the right individual.
Proven financial prowess
Handling estate affairs requires an executor to manage financial accounts and obligations. This includes sensitive, private information. You will want a person who has proven financial prowess and understands the most effective and confidential strategies for closing an estate.
Flexibility and willingness
Closing an estate will require your executor to take time away from personal responsibilities which could include work-related obligations. According to CNBC, one study revealed that estate closure could last anywhere between 11 months to 3.5 years. Your best bet is a person who has flexibility and is willing to deviate from personal obligations as needed.
Honesty and empathy
Given that your executor will work closely with your surviving relatives, you will want someone who is honest and empathic. A person who works well with others and shows compassion, understanding and support may not only optimize the time it takes to close your estate but simultaneously provide comfort and reassurance too.
Selecting the right person to execute your estate will make a considerable difference in how smoothly the process goes. Your family will appreciate the time you took to select an individual who meets your expectations and has their best interest at the top of the list of priorities.