Will your estate plan be executed the right way?

| May 18, 2019 | Elder Law & Estate Planning

When you are finalizing the details of your estate plan in Minnesota, you may be feeling a sense of accomplishment and relief that you have some direction for your family members when you become incapacitated. You can rest easy knowing that you have put in the effort to make designations and arrangements so your family will know what your wishes are. However, now you need to ask someone to be the executor of your plan to guarantee that everything goes smoothly when you pass away. 

Because designating an executor is an important aspect of estate planning, you should not simply hand off the job to any random person. You should also not discuss the possibility of someone being an executor if you are not serious or if the conversation is too casual and the receiver does not take you seriously. When you are considering asking someone to be in charge of executing your estate plan exactly as you have written, it is imperative that you have a discussion with him or her about what the responsibilities will be. You should receive a verbal answer from the person of your choice before you make it legal. 

According to Farm Bureau Financial Services, you would benefit from asking someone who has demonstrated good organizational skills and is capable of making wise financial decisions. Someone who is ethical and has integrity and is considerate and fair in making decisions that will impact others is also important qualities. Lastly, the person you choose should be in a position where availability will not be an issue. 

The information in this article is intended for educational purposes only and should not be taken as legal advice.