When it is time to prepare your will, selecting a trustworthy personal representative is an essential and very important task.
This person will take on the responsibility of winding up your affairs after your death. Here are four tips to help you make the perfect choice.
1. Base your choice on responsible behavior
The person you choose does not have to have a background in law or finance. He or she just needs to be a responsible person who will perform the role of personal representative in an organized and efficient manner. Someone with a business background would likely be a good choice.
2. Name a younger person as an alternate
Many people create a will once and never look at it again. Therefore, in addition to naming the personal representative you want, you might also name an alternative who is younger than you are. Years later, your original choice may predecease you, but your younger selection will be able to step in and serve.
3. Overlook disqualified individuals
Keep in mind that the court will not approve certain people as personal representatives. These include convicted felons and non-U.S. citizens who live outside the United States.
4. Select an emotionally grounded person
The death of a friend or relative is an emotional experience, and although your death may sadden your personal representative, this should not prevent the efficient administration of your estate. The person you choose should be able to deal with impatient beneficiaries and know when to seek professional assistance in order to avoid financial entanglements and legal missteps. In short, put common sense and vision to work as you prepare your will and you can rest assured that you have done your best to select the perfect personal representative.