No one needs a sound will and estate plan as much as older citizens do. The senior years usually bring increased vulnerability to these members of society.
Unless your elders already have a solid estate plan, you may feel worried about what will happen to them as they continue aging. You can support your elders in creating their estate plans, but do not forget the importance of having them choose the right executor for their estate.
Three tips for choosing the right executor
Many in St. Paul, MN, have found help in choosing an executor by consulting with an estate planning attorney. Legal guidance offers many benefits to the elderly and their families. For example, your older loved ones can learn how to vet their candidates by talking with a lawyer.
To help the senior citizens in your life get started right away on this process, consider introducing them to some useful tips like the ones below:
- Trustworthiness is vital in protecting elders. Help them choose a person they know they can trust to prevent possible financial exploitation.
- Attention to detail plays a critical role in successfully executing a will or estate. Your elder should choose someone who can multi-task and learn quickly while also keeping a tight focus on their executor duties.
- The fitness of the executor is also of vital importance. Choosing an individual in good physical and mental health helps ensure the full completion of the many tasks involved in administering an estate.
Once your elders have chosen an executor and prepared an estate plan, urge them to have a lawyer review it regularly. These regular reviews ensure that the estate plan in place for your older family member remains current and provides the ideal amount of protection.