Choose Executors Wisely

Choosing a person or persons to be the executor of your estate is not a decision that you should make lightly. Sometimes you might be afraid to appoint just one sibling to be the sole executor because you think it might cause a rift amongst the family. So, you end up appointing all of them to be co-executors thinking it a good idea. However, appointing the people who stand to benefit the most from your estate as executors may not be a very wise move. There are instances where courts have removed all executors because they all had major conflicts of interest which massively delayed the distribution of estate assets. A good example of a major conflict of interest is if an executor actually owes money to the estate.

There are a lot of circumstances to take into consideration when choosing an executor. If you find yourself unsure using an independent executor or professional trustee may be the best course of action.

For more information please consult with a professional Estate Administration Attorney.

*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.

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