When making an estate plan, one key step is to pick the estate executor or estate administrator. They receive a lot of power during probate, as they handle various affairs for the estate, including paying debts and distributing assets.
The first thing to look for is someone who is legally an adult, as they will need to be over 18 years old. But in general, you are allowed to choose anyone you would like, from a family member to a close friend.
They must be trustworthy
First and foremost, you need someone who is honest and trustworthy, and whose integrity you can count on. This helps to limit estate disputes and conflicts, and ensures that your estate plan will actually be followed.
They may have legal or financial knowledge
It is not required that you choose someone with specific legal or financial knowledge, but it can be helpful. Estate administration is a complex process, and not everyone will be the right fit for such a role. Even if they do not have a legal or financial background, you should try to find someone who is organized and detail-oriented.
They are willing to take on the job
Finally, remember that this is a major responsibility. Not everyone is going to want it, even if you think they would be a good fit. You should try to pick someone who has the availability to put in the time and effort required, and someone who expressly says that they are willing to act as your estate executor when necessary.
There are many steps to take when making an estate plan, and selecting an administrator is just one. It can help to work with an experienced attorney as you go through this process.