When creating a valid will in Minnesota and preparing the division of your estate after your death, choosing an executor is one of the most important decisions that you will make. A good executor will execute your wishes promptly and successfully, minimizing family friction and scandal. This is a rather big responsibility and often an honor, which is why choosing your executor should not be taken lightly.
An executor will be responsible for filing papers in court to verify the validity of your will. They should also take an inventory of your estate and use funds to pay your outstanding bills — including postmortem medical and funeral costs, taxes and other debts. They will handle the task of contacting financial institutions and government entities, such as the Social Security Administration, and notify them of your death. Most of all, your executor will distribute your estate among your friends and family members.
The right person may be difficult to select, but it is important that you name an ideal candidate to complete these responsibilities. The person should be organized, vigilant with maintaining deadlines, good with paperwork, someone that you can depend on and is an honest person.
Most of the time, people name a spouse, child or other family member as the executor for their will. Do not be obligated to follow this trend if you do not believe that they are up for the challenge. A friend, colleague or legal representative will also suffice. If you have additional questions, speaking with an experienced attorney may be beneficial.