As a resident of New Jersey, you work hard to create and maintain your estate. It goes without say that you put the same care into your estate plan. Because of this, you want to have an executor that will carry out your estate management well.
But should you choose a relative for the job? This is often a common way of handling estate management. But it is not the only way, and it may not even act as the best option for you.
Do you get along with your executor?
Forbes discusses how to choose an executor for your estate. According to them, there are several traits that good executors share. This can break down into two categories: personal and professional. As far as personal traits go, you should pick someone you can trust. It helps if you are on the same page, too. This often means sharing similar world views and moral principles. For you, a relative may fit the bill. But sometimes, a family friend, significant other or personal confidante fits it better.
How is your executor in a professional setting?
For professionalism, your choice must have certain professional skills and abilities. They should have strong organizational skills. Experience in leadership positions can help, too. People skills may also come in handy. After all, your executor is the prime point of contact for your loved ones and lawyer. Your executor should also go into this knowing how long probate sometimes takes. This is not a small-scale, short-term project. Probate sometimes lasts years. They must accept this possibility. They must understand the responsibility that comes with managing an estate.
If a family member fits these categories for you, then they are a good pick. Unfortunately, a family member that fills one category but not both may not be your best choice.