The point of proper estate planning in Oklahoma is to ensure that following your death, your wishes are kept. At Ball & Morse, PLLC, we know that a key part of that process will be having the right executor in place. There are several factors to consider when you are appointing the person who will be entrusted with your will.
According to the American Association of Retired Persons, choosing an executorshould include finding someone who will be there when the time comes. That involves weighing several factors, such as the following:
- Appointing someone much older than you could mean the person is more likely to pass away before you do.
- Opt for someone who is in good health and will hopefully be physically able to do the job.
- Choosing someone who is local may be preferable to someone who lives far away and would have difficulty getting in town in time to make important decisions.
Experts typically suggest that people should appoint their spouses, who are usually the ones who are most affected by the death. Otherwise, the American Bar Association points out that the executor of your will should be someone you trust and who has good judgment. It is a bonus if that person happens to have experience with financial matters.
There are also paid executors, which are neutral parties that could help you avoid potential family conflicts. The ABA points out that these people are able to bring logic to the table during an emotionally charged time.
When you make your decision, be sure to speak with the person about the role to ensure he or she is comfortable with the responsibility. It makes sense to have a backup executor as well in case the first choice is unable or unwilling.