A will allows you to decide how your property will be distributed when you die. If you do not have one, then the decision is left up to a judge. Your closet relative usually ends up getting your property. However, you will need someone to be over your estate. Read on to find out three tips for choosing an executor.
Talk to a Sacramento Probate Attorney
When you get ready to draw up your will, you should talk to a Sacramento probate attorney. He or she can explain the details of estate planning and the laws for your state. These details may include creating a will, choosing a power of attorney, creating a living trust and learning how to avoid probate court.
You should choose a person that is responsible to handle your estate. Lawyers, accountants, and financial planners are good choices for this position. However, it is not your only option. The executor must know how to effectively communicate with beneficiaries. He or she also must be available to address financial matters quickly.
Choose Good Financial Standing
A right executor is one who is in good financial standing. If he or she has a bad credit history, then the person cannot get a bond from the bonding company. Bonding is a type of insurance that is required by the court system. It protects the beneficiaries in case the executor runs off with the money.
An executor can step in your shoes when you are no longer able to make them. Contact the Law Offices of Mitchell S. Ostwald at www.molaw.com for estate planning.