After creating your will, appointing an executor to carry out your wishes is a huge decision to make that will ripple across generations. But if you live in California, who can be an executor if you have no family? You can appoint anyone, but even if you have family, hiring a professional is often the best option for everyone’s sake. When you choose an executor, your legacy and the well-being of those you love the most are on the line, and only an objective professional has the time and expertise you and your loved ones deserve.
At Marcia L. Campbell CPA, we have helped administer countless estates with our professional fiduciary services. When you work with us, you can rest assured that your legacy and assets are in expert, reliable hands. Learn who can be an executor if you have no family and why a fiduciary CPA should be your only option even if you do!
Who Can Be an Executor if You Have No Family?
It is important to first ensure that the person you select has all the qualities of a good executor.
Your executor should be honest, organized, and able to handle the financial and emotional components of managing the estate. The executor should also be a great communicator, adept at navigating conflicts that may arise between beneficiaries, and have the availability.
- Have the time and skill to deal with all the paperwork
- Be able to deal calmly and impartially with potential heirs and creditors
- Not have any financial problems of their own
- Have ample financial, probate, and legal experience and knowledge
With family and loved ones, a lack of necessary skills or experience and deep-seated tensions can often get in the way of performing their role, which can have far-reaching consequences.
Ultimately, the best solution is to hire a private fiduciary as a professional executor. A professional fiduciary has the skills and experience you need to handle the tasks that come with managing the estate.
Related Article: What is the Difference Between a Trustee and Executor?
Why Do You Need to Hire a Professional Fiduciary to Serve as Your Executor?
A private fiduciary CPA is licensed by the State of California, is insured against fraud and theft, is familiar with the probate process, and has the expertise in managing investments and assets to ensure distribution goes smoothly.
Before they can distribute any assets, an executor must take your estate through probate, notify potential creditors of your passing, pay off any outstanding bills and debts using estate assets, and notify beneficiaries.
When you choose a professional fiduciary as executor for your will, you can trust that they are familiar with the process and will ensure your wishes will be carried out.
“Sometimes, when people appoint a family member as an executor, they worry they can’t trust them to fulfill their wishes after they pass away. The truth is every family has complicated dynamics that can muddy the waters. But with a professional, you don’t have to worry because they will act as an unbiased third party and have a legal responsibility to adhere to your desires.”
– Marcia L. Campbell, CPA & Professional Fiduciary
Even if you do have family members available to appoint, they will likely not be equipped to navigate complex probate laws, manage the financial aspects of the role, or think objectively when complicated family dynamics are at play.
Most of all, being an executor is a full-time job, and it’s rare for family members to have the time to devote to this responsibility. Administering an estate can take up to a year. Only a professional will be able to fulfill such a time- and labor-intensive commitment in the manner your estate and legacy deserve.
Related Article: 3 Steps to Take Before Hiring a Professional Fiduciary
Do You Need a Professional Fiduciary to Ensure Your Estate is in Expert Hands? Schedule a Consultation Today!
So, who can be an executor if you have no family? The answer may be, “anyone,” but if you want to make sure the job is done properly, a professional fiduciary is the best option to administer your estate, carry out your wishes, solidify your legacy, and ensure that those you love the most are taken care of. That’s precisely what you, your family, and your loved ones deserve. To ensure your estate is in expert and dependable hands, visit our Contact Page and set up a consultation.