An executor may have several issues to attend to before submitting your will for probate. For your executor, you may name any trusted individual with whom you can share private information prior to an illness or death. Some individuals, however, choose a spouse or an adult child who may not have the ability to view an inheritance objectively.
You may need someone to oversee your preferred end-of-life medical treatment and funeral or cremation arrangements. As noted by AARP, an executor pays your outstanding bills and may also find a new home for your pets. If you have someone in mind to care for them, the instructions in your will may leave funds for their care.
What are some issues to discuss with an executor?
Your executor may find it easier to probate your will if he or she has your personal information. With your Social Security number, for example, your executor could obtain a death certificate and place a stop to any future returnable benefit checks.
An executor may easily close your financial accounts. Any remaining funds may transfer on death to your intended beneficiary. If you have a life insurance policy, an executor may submit your death certificate and file a claim so your beneficiary can receive its payout.
How will my executor know where to find my property?
To help things process efficiently, you may provide your executor with a detailed list noting the locations of your property and paperwork. He or she may need access to deeds, titles or mortgage loan documents to oversee a smooth probate submission.
Your will dictates how the probate court transfers ownership of your assets and belongings. You may include heirs, friends and charities, and you may change them as you wish until your death. A trusted executor may help make sure your decisions lead to your desired outcomes.