When you work on your California estate plan, you may feel most concerned with putting together a will, a power of attorney and an advance health care directive, among other possible inclusions. However, you would be wise to also consider who you are going to name as your executor and what you need this person to know.
Per AARP, regardless of if you name a friend, a family member or someone else your executor, you want to make sure the individual you appoint knows the following three things.
1. How to secure your home
It may surprise you how often crimes occur in a vacant home after a homeowner’s death. Make sure your executor knows how to secure your home in the event of your passing.
2. Where your original will is
You also want to make sure your executor knows where to find the original copy of your will. Maybe you stored it somewhere in your home or office, or maybe an attorney is holding on to it for you. Regardless, your executor needs to know where to find it.
3. Your passwords and access codes
Your executor may need to tie up loose financial and other ends on your behalf, so he or she needs to know how to access your bank and other accounts. If you prefer your executor not to have this information until after your death, consider giving it to someone else you trust to then turn it over to your executor later.
The more information you are able to give your chosen executor while you are still alive, the better the chances of this individual managing your estate properly and covering all necessary bases.