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Title:Who Should You Name As Executor Of Your Last Will and Testament?
Duration:09:49
Viewed:11,484
Published:21-12-2019
Source:Youtube

Build your estate plan online! MyAdvocate is the online solution for creating and maintaining your Will and all other legally-valid estate planning documents. Click the link below to get started! www.myadvocate.com/join/paul -- Everyone who gets their last will and testament prepared designates an executor of their Will. And it also is a good idea to name an alternate executor. But some people get hung up on who they should select. Married people with adult kids typically name their spouse as their executor. They also typically either name one of their children as alternate executor, or they name two or more children as alternate co-executors. If you are single with adult children, it is common to name a child as the executor. If you are married with minor kids, you'll likely name your spouse as executor, and a parent, sibling, or other trusted friend or relative as the alternate executor. When you are selecting your executor, it may help to know what their role will be. If frozen accounts exist when you die, your executor will likely open an estate account and pool estate funds into the estate account, for ultimate disbursement to your heirs. And when necessary, your executor may need to sell real estate or vehicles that were in your name. If you have adult children and don't know who to name as your executor, perhaps you should talk to your adult kids. Maybe they will have some valuable input. And note that once you make your will and designate your executor, you can always change it. Know that the role of executor and power of attorney are different, although they can be the same people. Generally, your power of attorney will handle matters for you while you are alive but incapacitated, while your executor will fill the temporary role of handling things from when you die until your estate is settled. For prospective law firm clients who want to schedule a free 15 minute initial phone call with Paul Rabalais, go to: go.oncehub.com/Paul8 This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship. Paul Rabalais Estate Planning Attorney www.RabalaisEstatePlanning.com Phone: (225) 329-2450

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