Tips For Choosing the Executor For Your Estate
When you make a will as part of your estate plan, one of your most important decisions is choosing the person to designate as the executor of your estate. Choosing the best person as executor of your estate first requires understanding what the executor of an estate does. Then, you need to know what qualities to look for in an executor who can fulfill the legal responsibilities under Arizona law.
Duties of an Executor
When you create a will designating the executor for your estate, the executor does not have any immediate legal duties solely by virtue of being named as executor in the will. After a testator dies, and the probate process begins, the executor acquires significant legal fiduciary duties after appointment by the probate court through issuance of letters of personal representative.
In many cases, it is advisable for a personal representative to retain a probate attorney to guide the probate administration process. Even with a lawyer, the personal representative’s responsibilities are significant. An understanding of the probate process is important. The executor / personal representative can help loved ones and family members understand the process and answer basic questions about the estate and the probate process, as the personal representative follows the lawyer’s guidance in completing probate of the estate.
Importance of the Executor’s Role
The executor (personal representative) of an estate is not just an honorary role, as some people may think. It is a position with substantial legal responsibilities. When you name the executor of your will, you need to be attentive to the duties they will fulfill. Even when a probate lawyer helps with the process, the personal representative should be able to understand the probate process and know how to perform their detailed duties. In fact, Arizona law allows a personal representative to receive compensation for work related to settling an estate.
Often the personal representative answers questions from family members and beneficiaries, looking to the probate lawyer for guidance. They are responsible for gathering and inventorying estate assets and following a very specific state law process established for Arizona probate. A probate lawyer often helps with this detailed, complex process.
It is essential that you have a high level of trust in your executor’s abilities and know they can and will maintain confidentiality as required in the process. Having someone who can be objective, fair, and unbiased throughout the process is crucial as well. An executor may be called upon to resolve disputes or disagreements during the probate process. Knowing the family members and loved ones sometimes plays an important role in resolving disagreements.
One consideration sometimes overlooked by a testator is the age of the executor. The personal representative should be an appropriate age to handle the responsibilities, in the event the testator passes away. For example, naming a younger child as the executor may not always be the best decision.
In any case, the most suitable decision for an executor depends on a wide range of factors relating to the testator, the estate, the family, and the financial circumstances. For that reason, relying on an experienced probate attorney for guidance in designating an executor is commonly the best approach.
Schedule a Free Consultation With an East Valley Probate Lawyer
At Peterson Law Offices, we help clients with all aspects of estate administration and probate, regardless of the size and nature of an estate. Your first consultation is always free of charge. If you have questions and concerns about settling a deceased loved one’s estate, we are here to help.
We take pride in offering top-quality, affordable legal services and exceptional client service. We welcome inquiries from clients throughout the East Valley, including Queen Creek, San Tan Valley, Gilbert, Mesa, and Chandler. Schedule your free initial consultation by calling 480-878-5998 or using our online contact form.
