One of the key things you need when choosing someone to be the executor of your estate is complete trust in them. There is too much at stake to select someone you do not wholly trust to act correctly and honestly.
It’s no surprise, therefore, that many people turn to a family member when choosing who to ask to fulfill the role. But is this always a good idea?
Sometimes it can complicate matters
You’ve likely read stories of family conflicts over the division of a deceased family member’s estate. Often these occur because the deceased split things unequally or perhaps disinherited one person who was expecting to inherit. Another reason they might occur is that someone believes the executor is putting their own interests ahead of the estate
Not everyone is a great communicator, and even though an executor might be carrying out their duties honestly, heirs and other beneficiaries might get suspicious if they fail to communicate things clearly – especially if the executor is a family member who is also a beneficiary.
It may be too much of a burden at a difficult time
Say you nominate your youngest daughter to administer the estate. You and everyone else know she will follow your instructions to the letter. The only problem is that she is so devastated by your death that she struggles to think straight and makes errors that prove costly or delay things for everyone.
This is not to say that no family members administer their loved ones’ estates well and without issue. Many do. However, when creating your estate plan, it is wise to consider all variables when making your choice and perhaps encourage or even put money aside for the person you choose to have appropriate legal guidance when the time comes.