When to Consult a Professional
Navigating the complexities of estate planning is not a do-it-yourself project. While this guide provides foundational knowledge, it is essential to seek professional guidance to ensure your final wishes are documented in a legally sound and effective manner.
First and foremost, you should always work with a qualified estate planning attorney to draft and finalize your will. State laws governing wills, probate, and the duties of an executor are specific and can be complex. An attorney will ensure your document is valid, that your choice of executor complies with state requirements, and that the language of your will is clear and unambiguous, reducing the likelihood of future challenges or disputes. They can also provide invaluable counsel on the question of who should I name as my executor based on your unique family and financial situation.
Beyond drafting the will, you might also consider naming a professional as your executor. As we’ve discussed, a corporate trustee (from a bank or trust company), a lawyer, or a professional fiduciary can be an excellent choice in certain circumstances. It’s time to seriously consider this option if:
- Your estate is complex. This includes owning a business, holding commercial real estate, having significant or unusual investments, or possessing valuable collections like art or antiques that require special handling.
- You anticipate family conflict. If your beneficiaries have a history of disagreement or you fear your will might create new tensions, appointing a neutral, impartial professional can be a wise move. A professional executor is bound by their fiduciary duty, not by family emotions, and can act as a buffer to keep disputes from escalating.
- You have no suitable candidates. If you don’t have a friend or family member who has the time, skills, or willingness to take on the role, a professional is an ideal solution.
- You want to unburden your loved ones. The role of executor is a job. By appointing a professional, you allow your family and friends to focus on grieving and supporting one another, rather than being saddled with administrative, legal, and financial burdens.
Finally, it’s important to remember that even if you name a family member as your executor, they are not expected to do everything alone. Your will can, and should, authorize your executor to hire professionals—such as lawyers, accountants, and real estate agents—to assist them. These professional fees are paid by the estate. Empowering your executor to seek expert help ensures that tasks like filing the final tax return or selling a property are handled correctly and efficiently.
For official information, consult government resources like USA.gov, the Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC).
For tax-related topics, refer to the IRS. For information on Social Security, visit the Social Security Administration.
Disclaimer: The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter.
