I am, on occasion, asked the question … “Can you be the executor of my will?”. It’s a good question to ask. Technically, the answer is yes. However, it begs another question: why would you want your attorney to be the executor? Is it your only option?
Most people appoint a relative such as a spouse, an adult child, or a sibling. But perhaps you don’t have any of those, or you do, but no one is willing to accept the responsibilities that come with it. Or they might not be capable for some reason. Another option is to choose a bank or a trust company to take on that role. It’s important to note here who CANNOT be an executor.
- You cannot appoint anyone under the age of 18 to be your executor.
- You cannot appoint an adult with disabilities that prevent them from managing their own financial affairs.
Interestingly, unlike many states that prohibit anyone with a felony conviction from serving as an executor, Ohio is okay with it. So if you want a convicted felon to be your executor, that’s okay, at least with the State of Ohio.
Here is some additional information about executors you might find interesting. The following are the duties usually expected of the executor, should you find yourself in that role.
Obtain copies of the death certificate and file the will.
You can usually obtain copies of the death certificate from the funeral home.
The deadline for filing the will varies state by state, from 10 to 90 days.
Consider assembling a team.
Usually, this means, at a minimum, an estate planning attorney to help you navigate the process. Adding a tax professional is also a good idea.
Create an inventory of assets.
With luck, the deceased was organized and had all the needed records at hand. That would include documents like bank and brokerage accounts, insurance policies, tax returns, and other documents.
Protect personal property.
If the estate includes a home, you’ll be responsible for maintaining the property and paying the mortgage, taxes, and insurance until the house is sold.
Set up a separate bank account.
Throughout the process, you may need to pay bills and make deposits on behalf of the estate. You should set that account up in the name of the decedent’s estate.
Pay the decedent’s debts.
This might also include filing state and federal tax returns.
Communicate regularly with the beneficiaries.
If you are not the only beneficiary, make sure to let the others know what is happening throughout the process.
Distribute the assets.
This is the final step in the process and can only be completed after all debts are paid. It may require court approval first. Again, it is a good idea to have an estate planning attorney help with all of this.
I hope this has been helpful. As mentioned, the short answer to the question, “Can my attorney be the executor of my will in Cincinnati?” is yes. But to understand more about selecting the executor of your will, I thought it would be useful to know what you’re asking that individual (or business) to do if you die. If you would like help with your will or estate plan, I’d like to be of service to you. Please call me at 513-399-7526 or visit my website, www.davidlefton.com.