To plan your Texas estate, you have to appoint a person who will manage your estate after you pass. This fiduciary is the executor. He or she must track and account for all of your assets, must submit your will, handle taxes, valuations and many other tasks. This person, unfortunately, may also be an arbitrator if there are family disputes.
According to Forbes, an executor may hold that title for two years at the least. Often, they retain the position for longer. His or her job ends when all tax filings are complete, all expenses satisfied and the distribution of assets is complete. Due to the strenuous and meticulous nature of the job, there are requirements that your executor needs to meet.
First, you have to trust the executor to carry out your final wishes. He or she has to demonstrate attention to detail and a strong work ethic. The role of an executor is one full of responsibilities and responsibilities that do not expire quickly.
The probate court also has to approve your executor choice. It is crucial that you choose a person within physical proximity to the court. In terms of legalities, you may have an executor of your choosing. However, if your executor cannot fulfill his or her duties due to location or time, the court may not accept the choice.
To choose an executor of your estate, you must weigh trust and practicality to make the right choice. The information provided here aims to give you an idea of common executor requirements. It is not, however, legal advice.