Skip to main content

When planning your estate, choosing the right successor can be a big decision. Your successor, also known as your personal representative or executor, will be responsible for managing your affairs and distributing your assets according to your wishes after you’re gone. If your estate plan isn’t clear enough, or if your executor doesn’t fully honor your wishes, there is no telling what will become of your legacy. It’s important that you properly vet the individual you choose as a successor, but do you know what to look for?

The attorneys at Law Office of Julie A. Paquette understand why estate planning is so important to get right. With years of experience serving clients throughout Michigan, our compassionate team can guide you through the process of choosing a successor and making sure your estate plan is set. We’ll work closely with you to understand your unique needs and help you make informed decisions about your future.

What Does a Successor Do?

Even if you already have an estate plan in place, you may be wondering what a successor actually does after your passing. In short, your successor plays a vital role in the estate administration process and is responsible for making sure your debts are paid and assets are distributed. Here are some of their key duties:

  • Identifying and gathering assets: This includes everything from bank accounts and real estate to personal belongings and investments.
  • Paying debts and taxes: Your successor will handle unpaid bills, taxes, and any other financial obligations.
  • Distributing assets: They will ensure your assets are distributed to your beneficiaries according to your will or trust.
  • Managing the probate process: If your estate needs to go through probate court (for instance, if your will is invalid), your successor will represent your estate during this process.

A successor plays a very important part in your life, so it’s important to make sure the person you choose is capable of executing these tasks promptly and tactfully. An experienced estate planning attorney can provide guidance on choosing the right person to be your successor.

Qualities of a Good Successor in Michigan

Because of the enormity of the task, choosing the right person for the role of successor is essential. Consider these qualities when selecting your successor:

  • Trustworthiness: Look for someone you can rely on to act honestly and ethically.
  • Organization: A good successor should be detail-oriented and able to manage paperwork and finances effectively.
  • Responsibility: They should be willing and able to take on the responsibilities of estate administration once you pass away.
  • Communication skills: Your successor will need to effectively communicate with beneficiaries, attorneys, and other parties involved in the process.
  • Knowledge of your wishes: Choose someone who understands your intentions and will respect your wishes.

Your successor can be just about anyone you know, including:

  • Family members (spouse, child, sibling, or other relative)
  • Friends
  • Trusted professionals (attorney, accountant, bank officer, etc.)

Once you have decided on a potential successor, there are some additional questions you may want to ask yourself before you make your final decision:

  • Is this person young or healthy enough to handle the responsibilities in the future?
  • Does this person live close by or will they be able to travel when it comes time to manage your estate?
  • Do they have a neutral and fair relationship with your beneficiaries?
  • Do they have any experience in finance or managing estates?

Contact Law Office of Julie A. Paquette For Your Consultation

Estate planning comes with a unique set of challenges and decisions to make that will impact the lives of loved ones and family members after your passing. Thinking about the future can be stressful, and a limited knowledge of estate laws may make the process seem intimidating. That’s where we come in.

At Law Office of Julie A. Paquette, we can provide you with the guidance and support you need to make informed decisions about your estate and help you choose the right successor to make sure your final wishes are carried out according to your plan. Contact us today for a consultation!

Skip to content