So, you are ready to start building your comprehensive estate plan in Florida. Although many of us are familiar with estate planning titles like “executor,” we do not always understand the exact duties that accompany that title. Choosing an executor is one of the most important decisions you will make with regards to your estate. Make the right choice in your director for estate settlement by taking the following factors into consideration.
First, it is important to understand the exact duties of an executor. This person is charged with collecting assets and obtaining information about your estate’s beneficiaries. Further, the executor pays off debts and claims, and he or she also files required estate tax documents. In other words, the executor is the “quarterback” for your estate. This can be a laborious duty, so it is important to choose someone who is not only trustworthy but also calm and good at managing multiple tasks.
When it comes to choosing an executor, one of the most common decisions is to name the spouse as the sole estate director. This can be a smart decision because the surviving spouse will have additional control over the asset division process. Relatives, friends and adult children are also common choices. Make sure to name at least one other contingent executor in case the person you name predeceases you or is otherwise unable to serve.
Rely on a Florida probate attorney to help you make even the most difficult estate decisions. These professionals may provide you with the information you need to make the best choices for asset distribution after your death. An airtight set of estate planning documents will benefit your heirs and executor alike.
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