Choosing a responsible executor in a will is a critical element of estate planning. North Carolina testators may have a trusted friend or relative in mind for the job, but trustworthiness only sometimes translates into competence. For some, it might be better to appoint a professional executor to handle the necessary probate duties.
Professional estate executors
An executor of the estate serves as the deceased’s official representative and administrator during the probate process. The executor must follow the directives in the will and perform all tasks timely. In addition to distributing assets to beneficiaries, the executor might have other responsibilities, such as handling the estate’s debts or filing tax returns. Mistakes on an executor’s part could delay the probate’s closing and potentially create other problems.
Appointing a professional executor involves selecting someone with experience. Such experience could decrease the likelihood of mistakes because of unfamiliarity. A novice executor might make inadvertent errors that may leave them liable for incurred losses.
Other points about executors and estate planning
Estate planning often focuses on ensuring things work smoothly for beneficiaries during probate. Selecting an executor who is an adult child or another close relative might seem like a good plan, but the person could be the wrong choice for the job. Putting someone in a challenging job they cannot handle may put the person through an unnecessary amount of stress. The person could face a legal challenge to have them removed from their duties, which might cause trouble between surviving relatives.
Meeting with several professional executors might become a priority during the estate planning process. Putting effort into appointing a skilled professional could be worth the effort.