As you think about the people you would like to see in inherit your estate, it is important to remember that you need to name someone as the executor of your last will and testament. An executor is someone that makes sure your wishes are carried out and that your heirs get exactly what you want them to have. An executor may or may not be paid for his or her duties. This should be written in the will so there is no confusion later. When selecting an executor as part of your estate planning, you should choose someone who you trust and who you know will be honest and carry out your wishes exactly how you direct.
One executor that evidently did not do this recently settled with the heirs of the will he was entrusted to oversee. The executor was a man who had been a long-time friend of the deceased, a 91-year-old woman who died 9 years ago in Florida.
After the woman's death, the man appeared to have mishandled the estate and failed to properly follow through with the decrees of the will. The process was so drawn out that several of the 18 heirs named in the will died before they had a chance to collect their inheritance. The man is also accused of taking money from the approximately $692,000 estate that he was not entitled to.
Five of the heirs lodged complaints which resulted in the man's duties as executor being taken away. The heirs and former executor went through a private mediation to settle the estate.
If this is not something you want to see happen with your estate, be careful when selecting your executor. You may wish to speak with an attorney who can give you advice on writing your will and choosing an executor.
Source: Herald News, "Kelly settles with Thibeault heirs," Laura Fraser, Mar. 11, 2013