In some ways, it is an honor when someone is asked to be the executor of an estate. It means the testator has profound faith in the person. Texas residents who are in the midst of estate planning need to make some difficult decisions, and one is choosing the person they think would be best to administer their estates when the time comes. Answering that question, however, is not so easy since the role takes time and some understanding of what exactly is involved.
Properly preparing for the task
It’s not enough to feel honored to have been asked; it’s important to do some investigating before giving an answer. There may be challenges involved in the executor’s role, and in many cases, it is a tremendous responsibility. Here are some questions to ponder before saying yes to the job:
- How complex is the estate? Are there hard-to-value assets for which the skill of a professional may be more appropriate?
- How complicated is the estate plan? Are there stipulations that may be challenging to untangle or enforce?
- Are there beneficiaries who might cause problems, and is the testator open to an honest discussion with them?
- What condition is the estate in? Is the testator willing to accept help to organize documents and simplify matters, such as creating an inventory of assets and debt information?
- Will the job impede family obligations?
- Does the potential executor intend to accept any payment the law allows the testator to provide for services as executor?
- Is there anything in the will, the estate or the overall situation that makes a possible executor uncomfortable or not able to deal with it effectively?
There are certain qualities that a person should have to be a good executor. The person asked has to do some self-evaluation to see if he or she would be up to the task. To obtain clarification of what exactly is involved, it might be wise to speak to a Texas estate planning attorney. Seeking legal advice may help a person to make the best possible decision about whether or not to accept the role of an estate executor.