Search Site
Menu
Tips For Choosing an Executor

You have likely put a significant amount of time, effort and money into planning your estate, don’t throw it all away by picking the wrong executor. Ideally, your executor will administer your estate honestly, efficiently and in the best interest of your beneficiaries. Bad executors have the potential to waste your estate’s funds, destroy family relationships and cause costly legal battles. Here are some tips to help you avoid sabotaging your estate plans:

No Experience Required

While the role of an executor is no easy job, for most estates only common sense and good judgment are required. You should pick someone with a good basic business sense who knows when to ask for professional help. For straightforward wills and small estates, a family member or close friend may be the best choice and could end up saving your estate money since family members are more likely to waive the executor’s fees. On the other hand, if you anticipate a will contest, or know that your estate is going to require a significant amount of legal work, hiring an attorney or someone with similar expertise may be the better choice.

Choosing More Than One

For estates with less than half a million dollars in assets, your spouse or a mature child may be the best choice to ensure the probate process goes as quickly and smoothly as possible. Naming more than one person means that tough decisions are not left in one person’s hands, but you should avoid naming all of your children to the role. Family squabbling can slow the probate process to a crawl and end up depleting the estate’s assets. Rather than worrying about being fair to your children, focus on preventing family conflict after you are gone.

Naming multiple parties may be the best choice if you have a large estate or if your estate includes a small business. Naming co-executors allows you to name a person with business expertise alongside a friend or family member, and you can specify which executor will be responsible for which duties.

Review Your Choice

Circumstances change and your perfect pick today may not be so perfect down the road. First, consider the age and health of any potential executors and the likelihood they will be around to administer your estate after you are gone. Next, make sure the person you name is willing to serve. Finally, your choice of executor may change due to shifting family dynamics and friendships, and you should dust off and revisit your estate planning documents every couple years and after major life events.

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact a Dedicated Texas Business Lawyer To Schedule a Consultation
Call 281-367-1222 or contact us online to schedule a meeting.

Strong In Action

  • Spring 2019

    The Strong Firm represents borrower in $42.3 million HUD construction loan for multifamily real estate development in Walton County, Florida.

    Read More
  • Spring 2019

    The Strong Firm acts as legal counsel for borrower in $32.1 million HUD construction loan for multifamily real estate development in Conroe, Texas.

    Read More
  • Spring 2019

    The Strong Firm aids borrower in $31.7 million HUD construction loan for multifamily real estate development in Nueces County, Texas.

    Read More
  • Spring 2019

    The Strong Firm represents borrower in the refinancing of a $3.57 million commercial mortgage-backed security for a commercial office facility in Montgomery County, Texas.

    Read More
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  • Peer Rated 2019 Award

Recent Blog Posts

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the Bankruptcy Provisions Therein

Last Friday, Congress passed and President Trump executed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” of “Stimulus Bill”) granting a significant and admirable level of support to the U.S. economy that has been left reeling by the one-two punch of the COVID-19 pandemic and OPEC’s… posturing.  While
Read More
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the Bankruptcy Provisions Therein

Combating Consumer Scams Amid COVID-19

As Texans, we have weathered our share of crises and disaster, although, here in southeast Texas, it’s usually in the form of a hurricane. Times of crisis and uncertainty, such as the current COVID-19 outbreak, tend to bring out not only the very best in people, but also the very
Read More
Combating Consumer Scams Amid COVID-19

Considerations for Commercial Property Owners and COVID-19

The novel coronavirus (COVID-19) has wreaked havoc on the world and our nation, casting widespread uncertainty and hardship in seemingly every corner of the economy. With many commercial tenants in dire financial straits – particularly those who rely upon customer interaction (i.e. retail, restaurant, and entertainment) – commercial landlords are
Read More
Considerations for Commercial Property Owners and COVID-19

Small Business Owner’s Guide to the CARES Act

The U.S. Senate Committee on Small Business & Entrepreneurship has put together the below summary of programs and assistance available to small business owners and certain nonprofit organizations through the Small Business Administration (“SBA”) under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).  The following information is current
Read More
Small Business Owner’s Guide to the CARES Act
  • Video Vault


    Watch videos done by our legal team to gain a better understanding of your legal needs. Our lawyers give video insight into areas such as Real Estate, Business Law, Mergers & Acquisitions and much more.

Pay Retainer Online

Use our easy-to-use and secure online payment feature.
We accept all major credit cards.

Pay Your Retainer

Contact us

Quick Contact Form