What to Consider When Choosing an Executor for Your Will

Choosing an executor of your estate is an important decision, as this person will be responsible for admitting your Will to probate, carrying out your last wishes, and managing the distribution of your assets after your death. The executor of your estate can be almost anyone, subject to certain restrictions. Because they will have significant responsibility for and authority over your estate, choosing an executor is an important decision that should not be made lightly.

What Are the Requirements to be an Estate Executor?

Because the estate executor has significant responsibility over your assets, the person named as your executor must meet specific requirements before they can serve as the executor of your estate. To be an estate executor in Nevada, the person you name must:

• Be a Nevada resident;
• Be at least 18 years old;
• Have no recent felony convictions;
• Be financially stable; and
• Have a good credit history.

When your Will is admitted to probate, the estate executor will need to provide their social security number and a copy of their driver’s license or other photo identification.

Who Cannot Be the Executor of Your Estate?

Nevada law imposes certain legal limitations when choosing an executor for your estate. A person cannot act as an estate executor if they have been convicted of financial crimes like fraud, theft, or embezzlement. People who are not U.S. citizens cannot act as the executor of your estate.

How to Choose an Executor for Your Estate

After your death, the estate executor will work closely with your probate attorney and other professionals. The person you choose as your estate executor will be responsible for locating your Will and other important documents, taking an inventory of your estate, paying estate taxes, distributing your assets, and performing other tasks to manage your estate.

The person you choose as estate executor should be responsible and organized, have keen attention to detail, and be someone you trust. Unfortunately, many people fail to take these considerations into account and instead think of the role as more ceremonial in nature.

Many people choose a spouse or another loved one as the executor of their estate. If you have concerns about who to choose or that your choice of executor will cause discord within your family, talking to your loved ones about your plans can avoid many of these concerns.

You should also discuss your plans with the person you intend to name as the executor of your estate. This will help ensure that they understand the requirements of the job. It also provides an opportunity for them to ask questions. Explain where your important documents are located, and give them the names of the professionals you work with, including your attorney, accountant, financial advisor, and others.

Personality Traits to Consider When Choosing an Executor for Your Will

The probate court will typically honor your choice as executor unless there are specific legal grounds that would disqualify them from serving. In addition to the legal requirements to serve as an estate executor, you should consider the personality traits of your potential estate executor.

For example, if the person you choose is extremely busy, they may not have time to devote to serving as your executor, even if they are otherwise a good choice. Similarly, someone who does not live nearby may not be the best choice, as they may need to make multiple trips to handle your affairs. Finally, you should only consider someone you trust and believe is reliable.

Other Considerations for Choosing an Executor for Your Estate

Your executor may be required to post a bond, although you can waive this requirement in your Will. There may be other circumstances in which the probate court requires a bond to protect the estate and provide assurance the executor will not steal from the estate or mismanage your property.

The executor may be required to apply for a bond, a process similar to applying for a loan from a bank. A credit check may be necessary, and if the proposed executor does not have good credit, is retired, or has ever filed for bankruptcy, obtaining a bond may be challenging.

You should also consider appointing a successor executor to serve if the person named as your executor is unable or unwilling to serve. Your Will does not expire, and it may be many years until it is admitted to probate. Life circumstances change, and your named executor may no longer be willing or available when the time comes to probate your will. Naming an alternate executor is prudent.

The Vander Laan Law Firm, LLC: Proudly Serving the Carson Valley Community

If you need assistance choosing an executor for your Will, Natalia Vander Laan can help identify important factors and ensure you choose the right estate executor who will not be legally disqualified.

To learn more, read about Ms. Vander Laan’s unique approach and get answers to Frequently Asked Questions, then contact the Vander Laan Law Firm today to schedule a free and confidential consultation.