Executor or Trustee: Tips for Selecting the Right Person

Temecula estate planning lawyers tell clients that choosing the right executor or trustee is critical, as this is the person(s) who will oversee your final affairs and deal with your heirs during a time of heightened stress and grief. While most people appoint their spouse to serve in this position, you may instead feel that an adult child or close friend is best suited for the role. Some people even choose an attorney or third-party institution to serve as their executor or trustee.

There really is no right or wrong answer; the most important factor is that you trust your executor or trustee to carry out your wishes and do the job competently. We also advise our clients to consider the following when making their choice:  

• The process of closing an estate can take a very long time, so you want to choose someone who will be committed to following through.
• The person you choose will have access to your finances. Ideally, your executor or trustee should be good at managing money, but also be aware that this person will have many opportunities to abuse the trust you have placed in them. Choose wisely.
• There are many details and conflicting interests that will need to be managed during the estate administration process, so your choice should be someone organized who can handle legal, financial, tax, personal, and family responsibilities.
• This person will be working with a wide range of people and institutions, so they should be able to communicate clearly with all of them.
• The person chosen will likely need to spend time in your home or business, going to court, meeting with attorneys, etc. For this reason, it is wise to choose someone who is physically able to handle the demands of the job.

Finally, the most important thing to consider is whether your choice of executor or trustee is willing and able to take on the job. Some people do not want to deal with lawyers or the courts while in a state of grief, while others may simply not want the responsibility. In either case, it is best to have an open conversation with your potential candidates ahead of time to make sure they feel up to the task. 

Once you have made your decision, contact your estate planning attorney to legally document your choice as executor or trustee. If you would like our help getting started, we invite you to contact our Temecula estate planning office or one of our many other law firms located throughout the state of California by calling (800) 244-8814. 

If you have any further questions about estate planning and strategies to shield your wealth, or if you’d like to have your current asset protection plan reviewed to make sure it still meets your needs, please contact us at one of our offices located throughout the state of California 800-244-8814 to set up a consultation.