Picking the people who will carry out your estate plan can be a difficult and daunting task. In general though, the effort spent in selecting the right executor, trustee and attorney will pay off in reducing mistakes, delays, and costs and in enabling your wishes to be fulfilled.

 

2.      The Right Executor

 

The executor is responsible for proving the will, collecting the assets, paying the creditors and expenses of the estate and distributing any remaining assets to the beneficiaries according to the terms of the will.

 

To do this, the executor should be a capable, honest, and mature person with a good business sense and a familiarity with the decedent, his or her family and his or her estate. The executor must not only be able to serve, but willing to serve. That is, the executor needs to be physically present and devoid of any conflicts of interest or other legal prohibitions against his or her serving.

 

There may be tax considerations regarding a particular person serving as executor. Also, professional executors may charge more for the service than a non-professional.

 

Sometimes it is difficult to find one person who embodies all the attributes of the perfect executor, and trade-offs or compromises must be made to find the best available executor.

 

A backup should also be considered in case the original choice is not available when needed.

 

3.      The Right Trustee

 

The trustee is the one in charge of carrying out the terms and conditions of a trust, either revocable or irrevocable.

 

Similar to an executor, a trustee should be a person of integrity with good decision-making skills. He or she should know the decedent, his or her family and his or her estate and be familiar with the goals the decedent was trying to achieve.

 

Availability and willingness to serve are also critical. The trustee should be able to be impartial and not have a fundamental conflict of interest with any beneficiary.

 

Sometimes when no one person can be found to be trustee with all of these characteristics two or more trustees can be appointed to serve together. In this case, the trust documents should be very clear as to how to resolve any disputes between the trustees.

 

Also, the trust should spell out how trustees can be replaced and list the order of successor trustees to ensure continuity in the trust administration.

 

Tax considerations with a trustee are often more important than with an executor and should be explored before naming a trustee.

 

4.      The Right Attorney

 

Is the attorney able to represent your estate? Many attorneys may be capable of drafting a simple will or power of attorney, but be out of their depth in dealing with an estate of any size or complexity. Check with the Vermont Bar Association to see if the attorney is a member of its sections devoted to estate planning or probate. Ask your local trust officer or call local bank’s trust offices for the names of two or three attorneys. See if the attorney you are considering presents lectures or seminars to the public or other attorneys on estate planning or probate issues. Ask if the attorney has taught courses or written articles on the subject. Ask business associates, friends and family for referrals. Also, do not hesitate to talk with the attorney about how much this will cost and get it in writing.

 

The purpose of your inquiry is to pick an attorney who focuses his or her practice in estate planning and probate, who has demonstrated competence in these fields, who has compassion in his or her dealings with clients, who can clearly communicate to his or her clients and who can do the work required at a price that fits your resources.

 

5.      Summary

 

Having the right people in place to probate your will or administer your trust is vital to making sure that your wishes are carried out. Taking some time now to find the best executor, trustee and attorney will bring peace of mind and better assure your legacy. Because planning matters, discuss this and all your estate planning needs with a capable, competent estate planning attorney.