Who Should I Choose as My Executor?

The Role of an Executor in Estate Planning

An executor is in charge of following your will and the law. Their job requires attention to detail and paperwork. Executors should be somebody that you trust.

Legal Requirements and Personal Traits: A Balanced Approach to Choosing an Executor

When selecting an executor for your estate in Ohio, it's important to balance legal requirements with personal characteristics. Legally, an executor must be of legal age and, ideally, a resident of Ohio to avoid additional legal complexities. However, beyond these legalities, personal traits play a pivotal role. Choose someone who is not only trustworthy and responsible but also has the emotional maturity to handle potentially sensitive family dynamics. It’s beneficial if they have some financial acumen or legal knowledge, but their willingness to seek professional advice when needed is equally important. Remember, an executor's role is not just about legal compliance but also about carrying out your wishes with empathy and diligence.

Understanding Executor Compensation in Ohio

You can choose whether or not to pay your executor for all of their hard work. Ohio law provides that executors can be compensated for their work with limitations. If you do not specify whether or not to pay your executor, the statute will apply.

The Importance of Bonding for Executors in Ohio

You can also choose whether your executor is required to post a bond. The bond acts as an insurance policy. If the executor does not distribute the funds properly, the aggrieved party can make a claim against the bond. Without the bond, the aggrieved party is limited to going after the executor's personal assets. Note that some courts in Ohio will require out-of-state executors to post a bond anyway.