It’s not surprising that no one wants to think about their mortality. After all, it can be a difficult topic for many. However, it’s quite beneficial for people to plan ahead about how they want their affairs to be managed when they’re not here. In this way, they can ensure their wishes are respected and followed.
Most people think that the only thing one can do to prepare for future uncertainties is to create a will. However, that’s only the first part. It’s also crucial to choose someone capable to act as their executor once they have created a will. That’s because it will be their responsibility to carry out all the instructions that are written in the will. This means they have to manage the estate, pay off debts, and accurately distribute the assets among the beneficiaries.
Choosing the right executor for your will can be an imperative step in ensuring everything goes according to your plans. In this blog, we will detail tips and guidelines to select an executor who is capable, reliable, and trustworthy to manage your estate. So, whether you’re creating your will for the first time, or editing it, this can help you make an informed choice.
It’s Vital You Select a Trustworthy Executor
Choosing the right executor for your will is an important decision that requires careful consideration. Most people don’t realize that this role is incredibly significant when it comes to estate planning. That’s because will executors have the legal authority to manage the estate responsibly, pay outstanding taxes and debts, and distribute assets among the beneficiaries according to plan.
So, when choosing the perfect executor for your will, it’s imperative that you select someone you trust. That’s because a trustworthy individual will ensure the deceased’s wishes are carried out as they had intended. After all, the last thing anyone would want is an executor who doesn’t care about their feelings and intentions.
Entrusting someone you don’t already know and trust can lead to many problems, complications, and disputes among beneficiaries. On the other hand, choosing someone you have complete faith in can give you peace of mind that your estate will be handled responsibly.
A trusted executor knows and understands your wants. This is why it’s more likely that they will act in your best interest to ensure the will is carried out with utmost respect. As a result, they will make sure there are no complications, conflicts, or confusions in the asset distribution process.
If you’re unsure who you should assign as your executor, most people usually choose trusted family members or friends. That’s because family members are more than likely aware of the individual’s personal and financial affairs. They are also more likely to have an interest in protecting the person’s wishes and ensuring they are carried out to a T.
That being said, it’s just as vital to consider if there is a chance of conflict between family members. For example, if one child out of many is chosen as an executor, it could cause resentment among the other beneficiaries. In this case, choosing a friend or a lawyer to act as an executor can be in your best interest.
Professional lawyers are extremely trustworthy and have years of experience managing estates and administering wills. Additionally, they can provide guidance to the beneficiaries to help make the process easier. However, it’s important to select a professional lawyer who is licensed, insured, and experienced to handle matters related to the estate effectively.
Don’t Forget to Consider the Executor’s Experience
We already discussed that the nomination of an executor is probably one of the most important aspects of an individual’s will. That’s why it’s imperative that the executor is an experienced lawyer to ensure the process goes as smoothly as possible.
A lawyer with years of experience handling similar estate plans will have the necessary information, knowledge, and expertise in the legal system. This means they are well-versed in legal requirements and understand how such cases work. In this way, they will prove to be more capable of guiding the estate through the difficult and complex probate processes.
Not only will these lawyers prepare all essential documents for the case, but they will also take necessary steps to avoid any disputes, complexities, or delays. They will also be more apt at managing the affairs related to the estate and handling any issues that might arise during probate.
More than that, an experienced lawyer would provide valuable insights, guidance, and support to the beneficiaries during this difficult process. Since they have effectively handled many such cases before, they will help their clients know what to expect. As a result, they can assist the beneficiaries in understanding legal terms, proceedings, as well as answer any questions that come up. With their guidance, navigating the complex probate process can become a lot easier.
Finally, another important benefit of choosing an experienced executor for your will is that they will reduce the likelihood of any potential disputes. These lawyers have handled many probates, so they know how to approach the case with empathy and sensitivity to minimize disagreements between family members.
This can offer you peace of mind knowing that your final wishes will be respected and carried out how you want them to. Moreover, it can be comforting to know that their family members will be taken care of in such a difficult hour.
It’s Also Important to Have an Impartial Executor
We already briefly mentioned that a biased executor might be the reason for disputes. This is why it is important that you have an impartial executor for will administration processes.
An impartial executor, such as a licensed lawyer, will work to ensure that the estate administration process is carried out objectively. After all, these individuals will have no stake in the contents of the will or its outcome. This is why they will be able to make better decisions in favor of the individual and their beneficiaries without personal biases. In this way, hiring a lawyer can be especially advantageous for those with more complex wills and estate plans.
One of the primary reasons people opt for impartial lawyers as their executors are to prevent the likelihood of disputes and arguments between beneficiaries. It’s not uncommon for beneficiaries to be mistrustful of or resent each other due to their stake in the outcome of the will. Many tend to believe in a perceived sense of unfairness, especially when it comes to the distribution of assets. Such feelings run high when one beneficiary receives more assets than the others.
For example, a step-parent as an executor can cause resentment and feelings of mistrust among other beneficiaries. Or an elder sibling being assigned the executor position can cause arguments and disputes among other family members.
In addition, if the contents of the will are unclear or vague, it can also lead to disputes and arguments. This especially occurs in cases where there are many beneficiaries with varying opinions.
Another common reason beneficiaries get into disputes is because of personal conflicts. Let’s be honest, family dynamics are often complex. Personal disputes and disagreements are also a part and parcel of familial relationships. That being said, these disagreements tend to escalate in stressful situations like will administration.
When you choose impartial executors for your will, like experienced lawyers, you know they will base their decisions on legal requirements instead of personal bias. They will also not be influenced by opinions and personal relationships. Instead, they will objectively handle decisions concerning the distribution of assets and their management. As a result, you can ensure your wishes will be carried out fairly, legally, and equitably.
Hire Legal Services from Nanda & Associate Lawyers to Make the Process Easier
Are you in need of professional legal services regarding trusts, estate plans, and executors for your will? Then consider our services at Nanda Nanda & Associate Lawyers.
The team of leading will and estate lawyers at Nanda & Associate Lawyers offers a wide range of services wills, estates, and trusts. These include:
- Advice to executors, trustees, and beneficiaries.
- Living will services
- Estate and trust litigation
- Power of attorney services
- Guardianship disputes
- Power of attorney disputes
- Probate and estate administration
- Will Interpretation
- Trustee/executor disputes.
Don’t hesitate to contact us to get started or to learn more about our law firm in Mississauga and its services.
Disclaimer: This article is only intended for educational purposes and shouldn’t be used as a substitute for legal advice.