How Do I Choose My Executor or Agent Under a Power of Attorney?

“A plan is only as good as those who see it through.”

The above quote came from the Star Wars universe, however it could not be a more accurate way to express the importance of choosing the right person to serve as your Executor or Agent under a Power of Attorney. The right choice can put you and your loved ones in a position to rest easy. The wrong choice can be a total disaster.

Although Executor and Agent are two different roles (three really, since there are two types of Powers of Attorney), there are similar qualities you want, no matter what. First, trust is important. You do not want to select someone that you do not absolutely trust to serve in these roles. Each of these jobs comes with total power over some aspect of your life. You do not want someone untrustworthy to have that kind of control over your affairs.

Second, you need someone with at least average intelligence. You do not need a rocket scientist or brain surgeon as your chosen fiduciary. However, you do not want someone who cannot do the job. Depending on the specific role, there is an amount of decision making that needs to be done and you want someone who can make smart decisions.

Third, you may want someone who is close in proximity to you. If you are choosing a Health Care Agent, for example, the fact that the Agent is close by can be the difference between life and death. In a health emergency every second counts, and if your Agent has to fly cross country to start making decisions, it could be too late by the time they arrive.

Finally, you want someone who is familiar with the details of your life. Where you bank, who your doctor is, what your interests are…all of the things that make you, you. Having a stranger suddenly step into your life without being familiar with your wants and needs is an impossible task for both of you.

At Kraus and Phillips, we can help you analyze your situation, and can help you come to the right decision about who you should select to handle your affairs at the point you cannot. Call us to schedule a consultation today.