Choosing the right trustee or executor is one of the most important decisions you will make when creating an estate plan. These individuals carry significant responsibility, managing your assets and ensuring your wishes are honored when you are no longer able to do so yourself. At Chaves Estate Planning LLC, we can provide legal assistance to the Massachusetts public and help you understand what qualities to look for—and what factors to avoid—when selecting the right person for the job.

Understanding the Role of a Trustee or Executor

While both trustees and executors help manage your estate, their responsibilities differ:

• Executor: Handles your estate after you pass, including paying debts, distributing assets, filing necessary paperwork, and overseeing probate (if required in Massachusetts).
• Trustee: Manages trust assets either during your lifetime, after your passing, or both, depending on the type of trust you create.

Because these roles involve financial management, organization, and legal duties, choosing the right person requires careful thought.

Key Qualities to Look For

1. Reliability and Responsibility

This person will make financial decisions, meet deadlines, and communicate with beneficiaries. Reliability is essential, as mistakes can delay distributions or create conflict.

2. Financial Competence

Your trustee or executor does not need to be a professional, but they should understand basic financial management or be willing to work closely with financial advisors and attorneys.

3. Ability to Stay Neutral

Administering an estate can be stressful, especially when emotions run high. Choose someone who can remain calm, impartial, and respectful toward all beneficiaries.

4. Good Communication Skills

They must keep beneficiaries informed, handle questions, and work with probate courts and financial institutions.

5. Willingness to Serve

Never assume someone wants the role. It is a significant responsibility, and you should have an open discussion before naming anyone in your estate plan.

Should You Choose a Family Member or a Professional?

Family Member:
Often chosen due to personal connection, but emotional ties may complicate decision-making. A family member may struggle to remain neutral if the estate involves complex family dynamics.

Professional Fiduciary or Attorney:

 A neutral option who brings experience and objectivity. This may be especially beneficial for larger estates, blended families, or situations where conflict is likely.

Consider Naming Alternates

Life circumstances change. Your first choice may become unavailable, so it is wise to name at least one backup trustee or executor in your estate plan.

Review and Update Your Choice Regularly

Reevaluate your selection every few years or after major life events such as marriages, divorces, or the passing of a named fiduciary. Keeping your estate plan up to date ensures your wishes remain aligned with your current circumstances.

How Chaves Estate Planning LLC Can Help

Selecting the right trustee or executor can feel overwhelming, but you do not have to make this decision alone. At Chaves Estate Planning LLC, we assist the Massachusetts public with crafting comprehensive estate plans and guiding clients through these important choices. With the right guidance, you can feel confident that your estate will be handled according to your wishes.