After choosing someone who possesses the qualities you are looking for in an executor, you need to have a conversation with them. This is when you inform them you are estate planning and you believe they are best suited to administer the estate. You want to handle this initial conversation efficiently.
But how can you do that?
Before the meeting
You should prepare for the conversation. This includes creating a list of your assets and liabilities and gathering relevant supporting documents to help your chosen executor understand the complexity of the estate.
Once you have all the necessary documents, choose a location and time for the meeting. A calm, private setting at a time when no one will be interrupted is ideal. Then, contact your chosen party and inform them you would like to meet them.
During the meeting
It’s vital to be gentle but direct during the conversation. Firstly, inform them about the purpose of the meeting. State that you are drafting an estate plan and you would like to name them the estate’s executor. Tell them why you chose them – the qualities they possess.
Give them the list you created when explaining the assets and liabilities of the estate. Tell them how they can access them.
Further, explain their expected duties, such as managing assets, communicating with beneficiaries and paying debts. It’s important to be honest when explaining the role. Let them know it requires commitment. You should also be upfront about any potential disputes among beneficiaries.
Finally, inform them that they can take time before responding. Encourage them to learn more about the role before deciding.
Asking a chosen party if they can serve as your executor does not have to be challenging. The tips discussed above can help you have a smooth conversation. When your chosen executor accepts the role, consider legal guidance to validate the appointment.
