Your executor — called a personal representative in Maryland — is the person responsible for carrying out the instructions in your will. Choosing the right person for this role is one of the most important decisions in your estate plan, yet many people make this choice without fully understanding what the job entails.
What Does an Executor Actually Do?
Your executor files the will with the court, inventories your assets, notifies creditors, pays outstanding debts and taxes, manages estate assets during probate, distributes assets to beneficiaries, files final tax returns, and provides accountings to the court. It is a significant responsibility that can take months to complete.
Qualities to Look For
The best executor is someone who is trustworthy and honest, organized and detail-oriented, financially responsible, willing to serve, available to dedicate the time required, and able to remain impartial if family dynamics are complex. While it does not need to be a family member, it should be someone you trust completely.
Can You Name a Professional Executor?
Yes. Some people choose to name an attorney, accountant, or professional fiduciary as their executor. This can be a good option if family dynamics are complicated, your estate is large or complex, or no suitable family member is available or willing.
Always Name a Backup
Always designate an alternate executor in case your first choice is unable or unwilling to serve when the time comes. Without a named backup, the court will appoint someone.
Need help choosing the right executor and structuring your will? Contact SoMD Estate Planning for personalized guidance.