If you take the time to draft a will you can choose your own executor. An executor, or personal representative, is the person chosen to supervise the administration of your estate after your death. First, you must decide if you want an individual or an institution to act as your executor. An institution can be a bank, a trust company, etc. Most people select an individual. Next, you should verify that your choice of executor will be allowed to serve. Some states have qualifications that an individual must meet in order to serve in this capacity. For example, in Louisiana an individual executor must be:
- Over 18 years of age
- Not mentally incompetent
- Not a convicted felon
- A resident of Louisiana unless that person has appointed a resident agent
- Not unfit due to bad moral character
If you die without making a will or the executor you named cannot fulfill that duty, the court will choose an executor. State law regulates who has priority to serve. First priority is usually given to the surviving spouse and children are next in line. In the absence of spouse or children, other members of the family may be selected, but the court will decide if heirs cannot agree.
For tips on choosing an executor, click here.
What does the executor do? Click here.
Source for portions of this post: Elder Law Answers
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