Choosing an executor is one of the most important decisions a testator can make and one that often receives less attention then it deserves. Most people assume a family member will fill the role and do not reflect on the potential issues that may arise. The most serious duty is the personal liability that comes with the position which creates potential financial danger for a loved one, particularly when an estate is complex or subject to litigation. In such a situation, it is a good idea to look outside the family to an organization that specializes in the role such as a trust corporation. While fees might be steep, protecting a relative will often outweigh the cost and help avoid a complicating factor if any future family disputes over an estate.
See Choosing an Executor Outside the Family, FEDweek, June 11, 2015.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
