Choosing your personal representative or executor for your estate in Colorado is something you should take your time with. You need to ensure that you choose someone who is responsible, trustworthy and willing to handle the job. If you do not pick the right person, it could lead to issues with your estate during the distribution process or during probate that might hold up your assets and leave your heirs waiting.
Kiplinger suggests that when choosing your executor, you need to think about how well that person will follow your wishes. You want someone who will not suddenly decide to go their own way. This is not a position where you want a free spirit or someone who you cannot rely on.
You should also consider the person’s age and health. You need to ensure that this person will be alive when the time comes. It is generally not a good idea to choose someone older than you since they are more likely to die before you. While you never know what may happen in the future, it is helpful to choose someone who will probably out live you. You may also want to stipulate what should happen if the executor is unable to serve. This gives you a backup plan just in case.
Do not forget that your executor does not have to be a family member or even someone you know well. You can appoint a professional who will handle your estate in his or her professional capacity. This information is for education and is not legal advice.