What to consider when choosing an estate representative

On Behalf of | Sep 23, 2019 | Probate And Estate Administration

A Nevada resident with assets may need to appoint someone to oversee their estate plan after they pass. This person is referred to as the executor, and they could have a variety of different responsibilities. For instance, the executor might be required to probate a will, inventory assets or determine how much an asset is worth. An executor could also be required to pay debts, court costs and other expenses.

Many variables should be considered when determining who will oversee the estate. Ideally, an individual will choose someone who pays attention to detail and can stay organized. It will also be important to pick someone who can meet deadlines or otherwise complete tasks promptly. Whoever is asked to serve in this role could have to act as a mediator if disputes arise between family members or other beneficiaries.

It can be a good idea to have multiple people in mind to serve as an executor. This is because a person’s first choice may not be able or willing to fulfill the duties of that role when the time comes to do so. It is also a good idea to review who is named to the role of executor as life events take place.

Close friends or family members may not be able to handle the estate administration process on their own. Therefore, it could be a good idea to hire an attorney to help oversee an estate after an individual passes. Legal counsel could work with an executor to meet deadlines or resolve disputes. The lawyer may also be available to defend the estate against creditor claims or beneficiary challenges to the terms of a will or trust.