Choosing an executor or trustee

Asked almost 7 years ago - Washington

How should we go about selecting an executor or trustee. What questions should we be asking. Is an attorney a good choice?

Attorney answers (1)

  1. Elizabeth Rankin Powell

    Contributor Level 20

    1

    Lawyer agrees

    1

    Answered . I generally ask a client who is the person, other than their spouse, that they trust most in the world and name that person as the executor/trustee - in a backup position to the spouse. It is entirely possible that the person you trust most is an attorney, but if they bill at 175-250 per hour, it is going to cost a lot for them to be the PR when they could just be the attorney for the PR.

    In other words, you can save the $ and not name a professional. You can name two successors if you think a check and balance approach would be helpful.

    Hope this helps. Elizabeth Powell

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