A good executor will be able to quickly step in and manage your estate soon after you die. But just because an executor is competent and knowledgeable does not mean he or she won’t need a little help. If you’ve already chosen an executor, also known as an estate administrator or personal representative, you can easily ensure that your executor will have the right information he or she needs to begin administering your estate.
Tip 1: Gather
One of the easiest and best ways you can help your executor is to make it easy for him or her to find all your important estate planning documents. If you haven’t already done so, you should keep your original estate planning documents in a single location that is both secure and easily accessible by the executor. Common locations include your attorneys office safe, a bank safety deposit box, home safe, or other secure location. You should also make the executor aware of where these documents are located and possibly keep copies available in a separate location.
Tip 2: Assemble
Though your estate planning documents are important, they aren’t always enough for the executor to begin managing your estate. You will also want to identify specific property, especially financial accounts, credit card accounts, and other information that may be a little difficult for your executor find out. You’ll also need to include access information such as passwords or online account information. However, you should be very careful where you keep this type of sensitive data and be sure to store it only in a secure location.