Choosing the right people to manage your estate, handle your affairs, or carry out your wishes is critical to the success of your estate plan. These individuals have distinct roles and should be selected carefully to align with your values, financial goals, and family dynamics.

Trustee

A trustee oversees the management and distribution of assets in a trust. When selecting one, consider their financial acumen, commitment to managing funds responsibly, and willingness to adhere strictly to your instructions. While family members may be close, a corporate trustee or third-party professional might offer impartiality, consistency, and expertise.

Executor

An executor manages your estate through probate, ensuring all debts are paid, and assets are distributed according to your will. Look for someone reliable, organized, and willing to follow your wishes diligently. Executors should understand both the legal process and family relationships, as conflicts can sometimes arise. Legal advisors can also serve as executors if family dynamics are complex.

Agent Under a Power of Attorney

An agent under a Power of Attorney (POA) will make decisions on your behalf, typically concerning financial and medical matters, if you become incapacitated. This role requires someone who has a strong sense of responsibility, understands your preferences, and is available to make immediate decisions. Many choose close family members, though some prefer impartiality, opting for trusted advisors or professionals.

Key Qualities to Look For

1. Integrity – Above all, these individuals should respect your wishes and make choices aligned with your best interests.
2. Organizational Skills – Managing finances, documentation, and various tasks requires a high level of organization.
3. Communication – Clear communication is essential, especially if multiple family members or entities are involved.
4. Impartiality – Trustees and executors should be unbiased, particularly when balancing different family members’ needs or expectations.

By selecting the right people for each role, you can feel assured your legacy and personal care will be managed with respect and efficiency. The Davis Schilken, PC team can provide guidance tailored to your unique family and estate planning needs. Give our office a call to set up a no obligation meeting with one of our attorneys (303)670-855. We make estate planning simple.