Naming the person who will manage your estate is a critical part of planning your estate. This role comes with significant responsibilities that require commitment to delivering your wishes.
Family members are often the choice for these roles. However, if you are not close to your family or simply do not want to burden them with the work, you have other good options.
Options for non-family executors
If you prefer a non-family party to execute your will, you can appoint your closest friend to handle your estate. Alternatively, hiring a professional fiduciary can help you avoid potential mistakes in estate planning.
Either of these options is permissible in court, but the appointee must meet Arizona’s eligibility requirements. An executor must be 18 or older and of sound mind to handle their responsibilities.
Qualities to look for when assigning an executor
An executor carries the duties of carrying out your wishes, settling debts and taxes and distributing assets among your beneficiaries. Performing these tasks properly is crucial, which is why your assigned individual should possess these qualities:
- Trustworthy: Your executor protects your estate and acts for the benefit of your beneficiaries.
- Impartial: Your executor remains neutral when handling estate matters.
- Organized: Your executor carefully organizes their fiduciary tasks.
- Financially knowledgeable: Your executor can understand financial terms and topics that concern your estate.
- Reliable: Your executor commits their time to the role.
Having these traits in mind can help you find a non-family executor you can trust to ensure your legacy is handled with diligence. Consider learning more about estate planning by reading reputable resources online. Seeking legal advice can offer clarity on the matter.
