Planning For A Secure Future

Using a professional executor to manage your estate

On Behalf of | Oct 23, 2023 | Estate Planning

Most people in California choose a friend or a family member to act as the executor of their estate. Some people aren’t familiar with the process or unwilling to manage it. Others may not trust those individuals to do their duties, especially if the estate is large. The answer is finding a professional executor to manage your assets.

Characteristics to look for in a professional executor

Many individuals don’t realize how much work is involved in acting as an estate executor. Executors and trustees are responsible for several time-consuming and stressful duties. When beginning the estate planning process, one of your first thoughts is settling that position. However, you need to consider several points instead of rushing into a decision.

If naming a family member or friend is impractical, look for the following factors when seeking a professional executor:

  • Experience, as you want someone familiar with the entire process
  • Complicated family dynamics can make using a neutral third party much less stressful for everyone
  • Using a professional as a co-executor can help mitigate some of the liability that a family member may face
  • Massive time and location demands are part of a professional’s job
  • A professional co-executor can help make your trusted family member’s job easier

Preserving your legacy

Estate planning is all about preserving your legacy and ensuring your assets go to the individuals you want. Determining aasset distribution is your prerogative, so ensuring it is done correctly is paramount.

Executors have an essential role in carrying out your final wishes. However, you should also consider other aspects of your plan, including trusts, powers of attorney for healthcare and finances and end-of-life wishes. Consider these aspects and naming an executor when you start estate planning or decide to modify essential documents.