If you have been considering putting together a new will or even updating your will, evaluating your choice of who to name as the executor of your will should be part of the tasks you face. Many people in Washington might blindly assume that the best person for this job is a spouse, a parent or an adult child. However, depending upon the situation that may or may not be the case.
Appointing someone to be the executor of your will should not be thought of as an honor but truly as a job. This person should have the judgement and financial savvy necessary to make the right decisions on your behalf. Therefore, emotion should be taken out of the equation when selecting an executor.
As explained by Fidelity Investments, your executor must be able to execute and manage legal, financial and tax-related duties on your behalf. These including filing final tax returns, collecting any money owed to you, paying any outstanding bills and filing legal notifications regarding your death. This person will also manage things like a probate inventory and the distribution of any assets to heirs including charitable organizations. If an heir contests a portion of your will, the executor will also be involved.
This information is not intended to provide legal advice but is instead meant to give Washington residents an overview of all that may be entailed in being the executor of a will so that they can select the right person for this role when making their estate plans.