When you make a will, you can appoint an executor. This person has an important role to play and has to do everything that they can to ensure that your last will and testament are carried out properly. If you want to make sure that you have a legally binding will and a complete estate plan, talk to a Washtenaw County wills attorney from our firm. We can help you with all aspects of estate planning.
What Does an Executor Do?
So what does it mean to make sure that your last will and testament is carried out? Your executor will take care of a few important tasks that ensure that your estate does not owe anyone money and that beneficiaries have a chance to get what you wanted to pass down to them. This means that an executor will usually have to:
- Take care of your last year of tax returns
- Pay off any remaining debts or creditors
- Decide what to do with your home if mortgage debt remains
- Reach out to beneficiaries of your estate
- Make arrangements to distribute inheritances
This can be time-consuming, so you want to be sure that you pick the right person for the task. It should be someone responsible and someone who has the time available to take on these tasks.
What Requirements Are There to Become an Executor?
The state of Michigan does not have too many requirements for executors. You just need to choose someone who is older than 18. Many people choose their spouse or adult children. If you do not think that any of them are a good fit or if that is not an option for you, an attorney, accountant, or bank can also serve in this role.
When Do I Pick My Executor?
You pick an executor when you make your will. Our attorneys can help you make a will that is legally binding, one with witnesses. Who you have chosen as your executor will be clear and there should be no legal issues or pushback from family members later.
Should I Talk to Someone Before Assigning Them This Role?
As we mentioned, this is an important role with many crucial tasks to take care of. It is a good idea to talk to someone before you make them your executor. Be honest about the expectations and the time investment. It’s better to find out now if someone would not be able to take on the responsibility.
Schedule Your Consultation
If you want to learn more about the role of an executor or you want to learn more about your estate planning options, contact Collis, Griffor & Hendra. Estate plans are not just for rich people. Let us help you with yours.
