Family Portrait At Christmas

Being an executor is not an easy job and can be quite stressful.

Many people trust one of their own children above all other potential candidates when considering the responsibilities of an executor.  However, it is not always a good idea, according to Texas Lawyer in “Mamas, Don’t Let Your Babies Grow Up to be Executors.”

Being an executor is not an easy job. If people do not know what they are doing, it is very easy for them to make mistakes for which they can in turn be held personally liable.

An executor does more than just distribute the assets of the estate. He or she must be able to communicate with the court and with any heirs about the estate. If, for example, the executor and a sibling do not get along, there can be problems. In some cases, executors will need to invest assets for a period of time before they can be distributed and need the skill to do that investing wisely.

Before naming one of your children to be the executor of your estate, think through whether it is a role you really want that child to have. It might be better, in some cases, to name a professional.

An estate planning attorney can advise you in creating an estate plan that fits your unique circumstances, including the most appropriate candidate for the job of executor.

Reference: Texas Lawyer (March 6, 2018) “Mamas, Don’t Let Your Babies Grow Up to be Executors.”

For more information on asset preservation and estate planning, please visit my estate planning website.

Mr. Amoruso concentrates his practice on Elder Law, Comprehensive Estate Planning, Asset Preservation, Estate Administration and Guardianship.