Facing our own mortality is difficult, but it is a part of our life we should not neglect. We must consider that there are matters to attend to after we are gone. Our estate will have to be handled and, out of consideration for our loved ones, we can make plans for the distribution of our wealth and personal property while we are alive.

If you are one of the many people who do not have a will with a named executor, then consider these facts. If you die intestate (without a will) the following difficulties may ensue:

• The laws of the state where you live will control the distribution of your property. The rules governing this process vary from state to state.
• The estate will have to pass through probate (the legal process of transferring of property). A lawyer may need to be retained and legal fees are generally higher in a case without a will. Funds left in the estate will be depleted, depriving your loved ones of their inheritance.
• The court may appoint an administrator to oversee the distribution of the estate. The administrator may not be the person you would have chosen and the ramifications of this can sometimes end up adversely affecting your family.

When you take the time to create a will and name an executor you not only make the process much simpler for your beneficiaries, but you can also designate who receives your possessions. Naming an executor should be a process that is well thought out. Before you name your son, daughter or best friend as executor consider whether they are up for the task. While having a will with a named executor simplifies things, the task of being an executor can be rather involved, particularly when dealing with a large estate. To tackle the responsibilities that go along with this job a person should be honest, organized, possess financial skills and have the ability to be fair yet firm. An important part of your will that will make your executor’s job much easier involves making a list designating the recipients of your tangible personal property. Typically most estates do not run into problems with bequeaths of capital, it is usually the personal items that beneficiaries argue over. By making these decisions ahead of time you prevent conflict and the executor is not confronted with this type of difficulty.

Finally, because of the degree of responsibility involved, before you name a person to become your executor, it is wise to ask them if they are willing to one day assume this role. When and if they agree, familiarize them with the various affairs of your estate and location of important documents. After all, the purpose of organizing your estate is to have the distribution process run as smoothly and efficiently as possible after you’re gone, and this altogether important role is vital to ensuring your estate is well-handled.

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