When creating your estate plan, your choice of executor is crucial. Ultimately, they will be the one who manages your estate and distributes property according to your wishes.

Often, parents look to one of their adult children to fill the role of estate or will executor. While there are certain benefits to having your child serve, there may also be potential drawbacks to consider.

What are some possible advantages?

Leaving control of your legacy with someone who cares about honoring your final requests may give you peace and security. Other reasons to consider choosing one of your children as executor are the following:

• Your child is likely familiar with your values and estate, potentially facilitating a smooth and respectful execution.
• Assuming your child lives nearby, they can likely readily access your documents and handle logistical estate administration tasks (which may be more complicated if they live far away).
• It can be comforting to know that your child will be the one to take charge and look after your estate.

Often, the adult children chosen for this responsibility find the experience meaningful. However, it's important to ensure they are willing and able to serve before you document them as your executor.

What about the possible downsides?

There are a few potential disadvantages to consider.

• It could be stressful for your child to take on executor duties at this time and may even disrupt the grieving process.
• Choosing one child over another may create contention among siblings and could increase the risk of a will contest.
• If your child lacks experience handling complicated financial matters, they may be unprepared for the role of estate executor.

Having experienced estate planning guidance can help ensure that all of your decisions – including your choice for executor – are sound and appropriate for your family.