When an Arizona resident needs to select an appropriate executor for their estates, they need to think about a lot of different factors to select the best candidate. Ultimately, they should rely less on family and friendship ties and more on the following question: "Who's the most financially responsible, the most trustworthy, the most emotionally mature and the most capable to serve as my executor?"
When trying to answer this question, consider the following:
How responsible is this person? The world of finances and the law is a conservative one that requires someone who is responsible, able to follow the rules and willing to honor their commitments. If you don't feel that a particular person is entirely "responsible," disqualify this person from your pool of suitable executor candidates.
Is the person in good financial standing? If the individual you select is not in good financial standing, he or she could be tempted to use your estate assets to pay off personal debts. Although this is unlawful, some executors actually get away with it. Or, your heirs and beneficiaries will need to go through a lengthy court battle to try and get the money back from the individual. If it has already been spent, however, your beneficiaries might not have any luck in this regard.
Is this person "drama-free?" Another thing to consider is how emotional and/or calm the person is. An emotionally stable person who can set feelings aside and simply handle the business aspects of your estate distribution plan is vital.
There are many more things you should consider while selecting an estate executor, but the most important consideration is to use your common sense. If you need help weighing your options for executors as you prepare a sound and effective estate plan, contact an experienced Surprise-area estate planning attorney now.