While thinking about your death can be quite sad, you need to make sure that you are preparing for it. Do you have kids that will need a guardian in the event of your death? Who will benefit from your home and your finances?
Writing a will is very important in order to make sure that everything is taken care of.
You need to make sure that you are choosing a person who will make sure that your all wishes are met. They need to be extremely trustworthy, responsible, and good organizational skills don't hurt either.
Here, we are going to give you some tips to help you choose that person.
What Is An Executor?
Before we get started, let's explain what an executor is. Essentially this is a person who you will have named on your will to carry out your wishes. They will also make sure that any financial obligations are taken care of.
This person might be someone who you choose, or it can be someone who is appointed by a court if you don’t have someone named. They will go through the estate administration process and sort everything out.
Choosing an Executor
When choosing an executor, you need to make sure it's someone you trust. Do you think that your partner will be up to the task when your death comes around? Do you have more than one child and by choosing the one you could be causing further problems during a tough time?
You must think carefully about who is best for the job and consider the likelihood of them still being around when you do eventually die.
Things To Consider
When you do finally figure out who you might want to administer your will, ask their permission. They might not be comfortable with taking on such a task. It is a lot of responsibly and not everyone will jump at the chance to do it. Just respect their wishes if they decline.
Once you have found the perfect person and they have accepted your offer, get in touch with a solicitor and put it in writing. A person's word means nothing unless it's written down and made legal.
You should also consider the fact that this person might not be available to carry out the task when the time comes around. This is why you should try to add a second person to your will. This way if something goes wrong like they die before you a backup is already in place.
You should also consider asking a third party to be the executor of your will if you cannot find the right person amongst your friends and family. Your bank or a trusted company could take on the task and save some extra hassle for your friends or family during this tough time.
Make sure that you are choosing the right person to act as the executor of your will. Follow our advice and you should be able to find someone who will do you justice.
While writing your will, who you consider to be the executor is an important decision! Your suggestions will be helpful to many! Thanks for sharing!
Home Jobs By Mom
Choosing the executor of your will is a very important decision if you want your wishes followed through on
People are often reluctant to make a will. When my husband passed away we not only had wills but since he had ALS (a terminal debilitating disease with no treatment) I put his vehicle in both of our names (making sure to use or instead of and as in Tom or Sandy rather than Tom and Sandy. The bank accounts and the house were already set up that way. At his request I made his funeral arrangements ahead of time. Although someone’s death is never easy, not having to go through probate and/or make funeral arrangements was truly a blessing.
Home Jobs By Mom
We’ve learned the difference with the ‘and’ and ‘or’ too when it comes to bank accounts. It makes me wonder how our house is set up, though?
Lots of people hesitate to make wills bcz they want to think about death but is always best to have things settled for your family.
Home Jobs By Mom
Yes, we never know what the future will bring.