It may not be a topic that people in Kentucky like to think about, but it is important that people plan for what will happen after their deaths. It is one of the few guarantees in life and it is important that people have a plan in place to distribute their property and assets to the appropriate people. This can be accomplished through a will, which allows people to specifically provide certain gifts to specific children, other family members, friends, charities and other places. Wills give people the ability to control the distribution as opposed to the distribution occurring according to the intestate succession laws.
Stating people’s wishes in a will does not physically transfer the property to the appropriate beneficiaries after people pass away though. People need to appoint people to be in charge of ensuring that debts are paid and beneficiaries receive their property. To accomplish this, people need to appoint an executor or personal representative in their wills. This individual will be in charge of administering the entire estate. This is an important job, which can become complicated, so people need to choose wisely when naming a personal representative.
Important aspects of an executor’s role
There are a number of aspects of the executor’s job that people need to consider. People should choose someone with good common sense. People do not need to be experts in everything, but at least know when to ask other professionals for help. People should also choose people that they would expect to be alive, willing and able to act as a personal representative when people pass away. People should also name successor personal representatives in case their first choice is unable to act in that capacity. Sometimes it may be beneficial to name multiple personal representatives to act at the same time as well. Also, it is important to update people’s wills when necessary and to check back in with previously name personal representatives to ensure they still will be able to do the job.
People in Kentucky may have a few different people that they may consider to be an executor. It is important that people choose the best person and not just one based on an emotional connection. Experienced attorneys understand the importance of wills and may be able to guide one through the process.