Being appointed as the Executor or Executrix of someone’s estate is a notable honor, a testament to the trust they place in you to carry out their wishes.
While some may assume that the default choice for an Executrix is a family member, actually, in most cases, the Executrix can be anyone – a friend, an attorney, or a family member.
When assembling your team for key roles in your master plan (aka) estate plan, meticulously select individuals whom you can wholeheartedly rely on and trust.
These team members should not only understand your values but also know how you envision the treatment of your children.
Here are some things to consider when thinking about someone for these honorable positions.
𝐊𝐧𝐨𝐰 𝐚𝐧𝐝 𝐓𝐫𝐮𝐬𝐭:
Consider individuals with whom you share a strong and trusting relationship.
𝐃𝐞𝐜𝐢𝐬𝐢𝐯𝐞 𝐔𝐧𝐝𝐞𝐫 𝐒𝐭𝐫𝐞𝐬𝐬:
Opt for people who can make tough decisions in high-pressure situations.
𝐒𝐭𝐞𝐚𝐝𝐲 𝐚𝐧𝐝 𝐃𝐞𝐩𝐞𝐧𝐝𝐚𝐛𝐥𝐞:
Look for individuals who consistently demonstrate reliability in their actions.
𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐘𝐨𝐮 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐥𝐲:
Prioritize those who are familiar with your values, philosophies, and how you would handle matters concerning your loved ones.
𝐏𝐫𝐨𝐦𝐩𝐭 𝐚𝐧𝐝 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞:
Consider individuals capable of taking quick action and being readily available when needed.
𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐒𝐚𝐯𝐯𝐲:
Include individuals skilled in handling business matters and making sound decisions, such as dealing with banks and insurance agents.
𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐥𝐞 𝐚𝐧𝐝 𝐂𝐚𝐩𝐚𝐛𝐥𝐞:
Ensure that your chosen team members can effectively manage your affairs, especially in your absence due to sickness, travel, or other reasons.