Conversations with your Future Executor
Having a conversation with the person you have named as your Executor is a crucial step that is often missed when it comes to getting plans in order. We are quick to talk about the latest news, weather, and what happened on that HBO show last night, but why is it that we avoid talking about our estate plans with the ones who will be responsible for carrying out our last wishes? While the topic may be awkward and sensitive for some, these are conversations that need to be had. Let’s look at some of the reasons why these conversations are so important.
Do they want to be your Executor?
This is an important one! Does this person want to be named as your Executor? If you don’t have the conversation, they may never know that you have even named them, and nobody likes that kind of a surprise! If they voice that this is not a role that they would like to take on, it then gives you the opportunity to find another suitable person to name while you still can. By not having these conversations, you risk the person you have named as your Executor declining and renouncing the role, and your estate is then carried out by someone you did not intend.
Do they understand your wishes?
Carrying out your last wishes is a big job! By having a conversation with your future Executor, you can ensure that they fully understand what is expected of them, and it allows them to ask questions. Perhaps it’s a family heirloom with specific instructions, or the fact that you want a special song or flower at your funeral service. Do you want an obituary posted? Do they know what to do with your Facebook account? These are all things to make sure your Executor knows ahead of time in order to successfully manage your estate!
Do they know where to locate important documents and information?
There is a lot of information that is needed to successfully administer your estate. Your Executor will need to know where all these things are kept and how to access them when needed. Examples of important documents are; your Will, Power of Attorney documents, investment and banking details, online account information, etc. Without having these conversations, your Executor is left to play detective and search for these items on their own. This can cause lengthy delays that could have been avoided!
Talking about death does not need to be taboo! As every estate is different, the conversations will vary depending on your situation. It is important to maintain communication over time, especially as things in your life and estate plans change! Ensure that your Executor is aware and is prepared to successfully administer your estate when the time comes.
Do you have questions about the role of Executor? Another great tool when it comes to naming your Executor is our new online course called Executor Ready! Executor Ready does just that – gets your Executor ready for the role through ten easy to digest video modules led by our CEO and Founder Debbie Stanley. Click the link to learn more and to get your Executor Ready today!
This blog is not intended to be legal advice and should not be relied on as such. If you require legal advice, please contact a legal professional concerning your particular circumstances.