Choosing an Executor and Guardian

A couple of weeks ago I wrote an article about how to help your loved ones or executor find the information they need in case you have an accident.  It is important to have that set up, but I had a few people ask me about what an executor actually does.  I hope to answer that and what a guardian does as well as both will be involved in case of an accident.

What is an Executor and how should I choose one?
An executor is the legal term for someone who carries out the direction of a will and handles your financial affairs after your death.  Usually the person (or company) is selected and named in the will, a topic which you should discuss with your family and lawyer before you pass on.

Picking An Executor Or Guardian

 A lot of people don't like to think about picking their executor or guardian, but the reality is that by doing this work yourself while you are healthy you will save your family/friends a lot of work and grief when you might not be so healthy.

Taking care of your will/estate plan is an act of caring for your loved ones.  By doing it yourself, you are saving them from trying to guess what you want done or even prevent fighting amongst family members.  As bad as that sounds, I've seen family arguments because someone didn't leave a will, more than once, and it ends up devastating a family already going through a tough time.

The blog Thicken My Wallet has an excellent article on how you should choose your executor or guardian.  Take some time to read it, as it could be very important to how you care for your family after you are gone.

Jerry