The creation of a last will and testament is usually a part of a person’s estate planning process. If your own estate planning efforts will include drafting a will, a key consideration is the designation of an executor. As a consequence, it is vital for you to understand the role of an executor when it comes to wills and probate matters pursuant to Alabama law.
Definition of an executor
In basic terms, an executor is the person designated in a will to manage the affairs of an estate upon a person’s death. An executor has a fiduciary duty to a estate according to Alabama laws governing probate.
Fiduciary duty defined
The fiduciary duty of an executor is the legal responsibility to always act in the best interests of an estate. All decisions and actions of an executor must be made and undertaken in a manner that promotes the best interests of the estate and its beneficiaries.
Selecting an executor
Care must be taken in the selection of an executor. You certainly will want to select a person you trust to undertake the role in a trustworthy, reliable manner. You will want to name an executor who has the background and skills needed to oversee the affairs of your estate. The person designated by you as executor needs to have the time needed to tend to the affair of your estate.
As you contemplate estate planning, you need to give serious consideration to retaining the services of a skilled lawyer. An estate planning attorney can assist you in the development of an estate plan that makes the most sense for you.