When you make a will, someone must be named as the executor. This is the person who ensures that your final wishes and instructions are honored. Some people wonder if they should make a beneficiary of their will their executor as well. A Des Moines estate planning lawyer can tell you about the potential pros and cons of such a decision.
When Can a Beneficiary Also Be An Executor?
A beneficiary can also be an executor of the will as long as they weren’t one of the witnesses to the will being drafted and signed. In fact, to make sure a will is legally binding, any witnesses to its signing should be people who have no stake in your estate at all. This can be a friend to who you don’t plan to leave assets or even a paralegal at your lawyer’s office.
Because there are no rules against it, many people do decide to make one of their beneficiaries an executor as well.
Is Making a Beneficiary an Executor a Good Idea?
The better question here might be “Should people make their beneficiary an executor?” There are some good reasons to choose one of your beneficiaries for this role:
- Someone who has a stake in the estate would want to protect its assets
- This person is presumably someone you know and trust to carry out your last wishes
- You can take the time to discuss this role and its responsibilities with the person before you choose them for it
We certainly understand the logic here, but you should also carefully consider some potential drawbacks to having your loved one serve in this role. You may have to worry that grief will distract an executor from doing their job if you choose someone close to you. It may also be necessary to think about whether your will could cause family drama. Do you want to place your beneficiary in the middle of that?
If you decide not to choose a friend or family member to be your executor, there are other options. A lawyer would be seen as a neutral party and you know that they would prioritize your final wishes. Another professional, like a financial advisor or accountant, could also take on the role.
Do I Need a Lawyer to Make a Will?
You do not necessarily need a lawyer to make a will, but we recommend having one advise you during the estate planning process. A will has legal requirements that it needs to meet. You don’t want to end up with a document that isn’t legally binding. That can cause all sorts of problems for your beneficiaries. So write up your will with the help of a lawyer and see how else we can help you with your estate plan.
Contact Our Law Firm Today
If you have questions about your will, beneficiaries, or your estate plan as a whole, we’re here to answer them. Contact Herting Law, PLLC to schedule a consultation with our experienced attorneys.
