Are There Rules in Georgia About Who Can Serve as an Executor?
When you are beginning to think about estate planning and what information you want your will to contain, you are likely thinking about who you want to serve as your executor. The role of an executor is extremely important. This party will be responsible for administering your estate after you die, which will include identifying and classifying all of your property, paying remaining debts of your estate along with taxes, and ensuring that your assets are distributed according to the terms you have outlined in your will. The role of an executor can be demanding and complicated, so it is essential to name an executor you trust, as well as someone who has the capacity to fulfill the duties involved in this role.
Before you name an executor, you should always discuss it with the person you are planning to name to ensure that they are willing to serve in this capacity. Beyond checking with your intended executor, are there any other rules you need to follow about who can serve as an executor? Consider the following information from our Gwinnett County estate planning lawyer.
Simple Requirements for Executor Eligibility
In some states, there are specific rules about who can serve as an executor. For example, in certain states, having a criminal conviction can limit a person’s ability to serve as the executor of another’s estate. Georgia does not have any laws that limit who you can choose as your executor, however, as long as they meet the following two requirements:
- 18 years of age or older; and
- Of sound mind.
The reference to an executor needing to be “of sound mind” merely refers to the fact that the party has not been adjudicated as incompetent or incapacitated — i.e., the person has legal capacity. Within those two requirements, you can essentially name anyone you want. They can live in Georgia or not (although an executor in the state can sometimes make things easier). They can be a family member or not.
Limitations for Entities Serving as Executors
You might realize, looking at the requirements for an executor, that they do not seem to be in line with an entity such as a business (since a business does not reach the age of adulthood, and a business cannot be “of sound mind”). What if you want to name an entity, such as a business, to serve as your executor rather than an individual?
There are actually limitations for appointing an entity like a corporation as your executor rather than an individual. Georgia law only permits entities that are permitted to serve as fiduciaries to serve in the role of an executor of an estate. If you want to name an entity rather than a person, it is critical to discuss your options in detail with your lawyer.
Contact a Norcross Estate Planning Attorney
If you have any questions about naming an executor of your estate, or if you have other questions or concerns about estate planning, an attorney can help you. At Bowman Law Firm, we have years of experience assisting Georgia residents with wills, trusts, and all other components of estate planning. An experienced Norcross estate planning lawyer at Bowman Law Firm can answer any questions you have today and can begin working with you on your will and other aspects of your estate plan. Contact us today for more information.
Source:
law.justia.com/codes/georgia/title-53/
