04 Apr 3 Factors to Determine Before Choosing a Legal Executor
A legal executor, by definition, is a person appointed to manage and distribute the estate of a deceased person. There is a whole period of probate that follows to ensure the validity of the executor’s will and authenticity, therein confirming their nomination as the legal executor.
Indeed, there are several advantages of choosing a trained professional. They have years of expertise and in-depth procedural knowledge to carry out this task. Here are some factors in determining before choosing a legal executor:
They Should Be Trustworthy
The first and foremost step towards choosing a legal executor is the level of trust you share with them. Legal executors are responsible for representing your will in your absence. This responsibility entails distributing your property and assets, paying your debts, collecting deb from others, and following all the wishes laid out in your will.
It is best to choose a third-party that is not a family member as their personal bias might come in the way of your decisions. The person you choose as your legal executor may not always agree with the instructions you have laid out but has the responsibility to adhere to your wishes as stated by you.
They Should Communicate Your Wishes Clearly
Building on the last point, a legal executor must give utmost regard to your wishes and should be able to communicate them. They should possess the communication skills to effectively convey your point of view while at the same time not reflecting any bias or opinions of their own.
A reliable legal executor should always be on top of keeping your beneficiaries involved and in the loop concerning whatever decisions and instructions you have set out.
They Should Have Strong Financial and Business Acumen
One of the most important qualities your legal executor should possess is a strong financial and business skill. This is highly crucial in dividing your finances and being better able to carry out your duties in a lucrative manner.
These duties include filing your income taxes along with paying other outstanding debts. Therefore, a solid knowledge base is needed to ensure your legal executors go the extra mile to comply with your wishes and execute them in a manner that is the best fitting.
Looking to hire an expert legal executor to execute your will? McGuinty Law Offices is the right place for you.
We are an Ottawa-based full-service law firm with years of experience in their field. Our lawyers have experience in managing and executing estates, along with ensuring your wishes are performed accordingly. We also give sound legal advice on cases including personal injury, litigation, home equity mortgage, commercial refinancing, and much more. Get in touch with us to book an appointment and seek help in all matters of the law.