Who should I name as my power of attorney and/or executor of my will? 

 

It’s a question that many of us ask ourselves; sometimes it looks like an easy choice: a spouse, a partner, a sibling, a parent, a child, a friend. Most of us assume there isn’t a lot that goes into managing an estate in the event of an accident or death. However, until you experience the roles and responsibilities of acting as a POA and/or an executor, it is hard to know what to expect. 

 

Ensuring your named POAs and executors are on the same page as you, and are up for the task of acting as your appointed representatives isn’t always easy either; but asking these questions can help prepare your chosen representatives and yourself for possible outcomes. 

 

When deciding who to name as your Power of Attorney and/or Executor, here are some questions to consider: 

 

  1. Can they manage these responsibilities and conversations, and carry out your immediate wishes? 
  2. Are they willing to speak on your behalf and act on your express wishes, both if you are incapacitated and in the event of your passing?
  3. Is your executor able to make funeral arrangements and close out any financial matters? 
  4. Can your POA/executor handle conflicting opinions? 
  5. Should you name your closest family and friends? 
    1. Would it be easier on your family and yourself to appoint a third party? 
  6. Should you consider naming two executors? Is the workload feasible for one person to manage? 
    1. If you consider naming two POAs and/or executors, can they work cohesively together? 
  7. Does your executor live close? Are they able to travel quickly? 
    1. If not, is it worth considering two POAs/executors to communicate when one isn’t present?  **Keep in mind, some states and/or institutions may require all appointed parties to be present for all matters to be handled.

 

Whether you’re asking yourself these questions or discussing them with your named POAs and executors, these questions are good icebreakers to set expectations and outline responsibilities for you and your chosen representatives. 

 

We are not providing legal advice. All estate planning varies from state to state. Please seek an attorney in your state for specific information and details.