Crafting an estate plan is one of the most intimate things you can do. The decisions you make regarding inheritance, insurance benefits, and elder care are a reflection of how you feel about your loved ones and who you most trust to expedite your wishes. As such, it is very important to thoroughly assess all of your options and weigh out the potential consequences of each of your choices. And some choices may involve you choosing between your head and your heart.
For example, let's say you are considering vesting the responsibilities of estate executor to your spouse or one of your children; why are you doing this? Is it because this person who you love so much is the one who is best prepared to execute the duties he or she is being assigned? Or is it because you feel a strong bond with this person and you are afraid he or she will be disappointed if you turned to someone else?
The fact is, giving the job of overseeing your estate based on familiarity, love or loyalty may not be in your or your family's best interests. You may be better served by finding an objective third-party to do the job. A third-party, especially one with executor experience could stay above the fray of family conflicts and focus on following your instructions to the letter.
Ultimately, the decision rests with you. But if you are in a quandary about what to do, you may want to discuss the matter with someone who is familiar with the many important aspects of estate planning. At the law firm of Vincent, Romeo & Rodriguez, we are prepared to explain the planning process and can offer sound recommendations for your consideration. We would be very interested in talking to you about your estate needs, and you can read about our vast array of services on the pages of this website.