The job of an executor in Florida is complex and demanding. This person will be responsible for initiating the probate process, notifying your family, relatives, and creditors of your death, paying taxes and other expenses you might have and distributing assets to your heirs as per your wishes. Here are some tips that can help you pick someone.
The executor should be organized and detail-oriented
The executor of your will is responsible for many paperwork and logistical tasks. They need to be able to keep track of all of the different moving parts and ensure that everything is taken care of in a timely manner. This person should also be comfortable dealing with sensitive information as they will likely be privy to some personal details about your life.
The executor should have some financial acumen
While the executor does not need to be a financial expert, they should at least have a basic understanding of finances and accounting. This will come in handy in settling your estate and distributing your assets. It would be more appropriate to consider someone in good financial standing because they will likely have more experience handling money.
The executor should have some knowledge of the law
Estate planning is driven by Florida state and federal laws. Your executor doesn’t need to be a lawyer, but they should have a basic understanding of the legal process. This will come in handy when dealing with creditors and beneficiaries who might have questions about their rights. The executor should also know how to file the necessary paperwork and follow court procedures.
Some people consider choosing their children, spouses or sibling as executors. Others appoint two executors to oversee their estate. There’s nothing wrong with doing this, but it’s always best to look for skill, credibility and accountability in a person and imagine the kind of relationship your loved ones might have after you are gone. Only choose a family member if they meet such requirements.