Picking an executor for your will is a big decision that affects your estate’s management after you pass away. This person will carry out your final wishes, manage your assets and pay off any debts.
To do this job well, an executor needs certain qualities. Think about these seven important traits as you choose an executor for your New Jersey will. These can guide you as you make your choice for this crucial role.
Seven traits your executors should have
Finding the right executor means looking for someone with both personal and professional strengths. Consider these key qualities:
- Trustworthiness: Your executor will see your financial details and handle your assets. Pick someone you fully trust to act in your and your beneficiaries’ best interests.
- Financial know-how: Running an estate involves tricky money matters. Choose an executor who gets basic financial ideas and manages money well.
- Good at organizing: Wrapping up an estate means juggling lots of papers, deadlines and tasks. Go for someone who pays attention to details and can keep everything in order.
- Time and dedication: Being an executor takes up a lot of time and energy. Select a person who can give this job the attention it needs.
- Emotional strength: Dealing with an estate can be tough on the heart. Your executor should stay calm and fair, especially when family feelings run high.
- Clear communicator: Your executor will talk to beneficiaries, lawyers and banks. Pick someone who explains things well and can smooth over any arguments.
- Legally qualified: New Jersey has rules about who can be an executor. Make sure your choice fits these rules, like being old enough and of sound mind.
Picking out your executor is a crucial estate planning component that could make or break your will. Give yourself time to think about these traits carefully. If you need help deciding, it’s okay to ask a professional for advice.