When going through the estate planning process, whether one resides in Georgia or elsewhere, it is necessary to assign a trustee if one establishes a trust and/or an executor to close out the estate when the time comes. Picking the right person or people for the job can be a bit of a challenge. Putting the wrong individual in such a position of power can land an estate in probate for a very long time.
According to the AARP, there are at least four things to consider before designating a trustee or executor. The first is common sense. Who will have the common sense and good judgment needed to close out and administer the estate as planned?
The second is availability — who will most likely be around to handle the job when the time comes? The third is corporate consideration — is a corporate trustee better capable of handling one’s trust? The fourth is naming a team — is having more than one executor or trustee going to be of benefit?
No matter who one chooses and why, every few years it is wise to look back and review the choice. Some may find it necessary to make changes and assign new executors or trustees — and that is okay as it is an easy change to make. Georgia residents can turn to an experienced probate law attorney for help creating their estate plans and naming the right people to the executor and/or trustee positions. Further assistance can be provided if any modifications to the plan are necessary down the line.