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Choosing the right executor during estate planning

Nov 15, 2018 | Estate Planning

Creating a comprehensive estate plan is usually done with the best of intentions, and most people in Florida probably hope that their carefully crafted documents will help their surviving family members deal with the aftermath of their death. Regardless of intentions, many wills still end up causing serious tensions. For better estate planning results, consider the following.

Naming an executor is not about picking the closest friend or kindest family member. Being an executor requires a certain set of skills, including attention to detail, an ability to stay organized, scrupulous ethics and more. This means that a person may not want to select the oldest child because of seniority, but instead consider which person might best fill the needs of the role. Communicating the reasons behind this choice beforehand can also help quell any opposition that may arise later.

Other than explaining the choice for executor, a person might also want to discuss any unequal inheritances. Although many parents choose to leave equal bequests to their children, others focus on providing each child with an inheritance that best fits their needs. However, failing to give heirs a head’s up can incite feelings of resentment and may even prompt some to challenge the validity of a will.

Aside from actually getting around to estate planning in the first place, one of the biggest aspects of the process that people in Florida struggle with is talking to their loved ones. While an estate plan is certainly a personal thing that reflects an individual’s wishes, it will also eventually affect other people. Communicating is an important part of this process that, combined with regularly updating documents and selecting the right executor, can ensure the best possible outcome.