Q. What are my options for an executor of my will or a trustee of my trust?
A. You have a variety of options when it comes to making this important decision.
- Family member
- Trusted friend
- Trust company or trust department at a bank
- In some states, a professional fiduciary
Each of these have advantages and disadvantages, but in any case, you should make sure your selected executor or trustee has the required expertise, integrity and time available. Additionally, the individual should not be named as a beneficiary or conflicted with other family relationships that would make the job more difficult. Using a non-family member can relieve a family of a lot of unnecessary stress and relational conflict.
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You have the best of intentions, but keep putting off completing your estate plans. Take the next step in the will planning process with this helpful tool.
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