Thinking of Naming a Close Family Member Executor?

Sometimes it creates problems to name a close family member executor, as seen in Jerry Garcia’s estate. A big mistake in Jerry Garcia’s estate came when third wife Debra Koons was chosen to administer the estate, according to the Wills, Trusts & Estates Prof Blog in "The Wrong Executor Can Make Family Drama Worse, As Jerry Garcia's Heirs Discovered." Garcia passed away in 1995 after being married three times, having four children and having one stepchild. Koons threw the first two wives out of his funeral. However, no one challenged his will, so no problems were anticipated. The problem for Garcia's estate is that his other heirs objected to many of the decisions made by Koons. They felt that she was acting in her own interests and not in the best interests of everyone. This led to constant family squabbles and made the estate administration more costly and time-consuming than it needed to be. The problems should have been anticipated. It would have been wiser to have an independent professional hired to handle the administration of the estate. That might not have been a solution to all problems, but it would have taken much of the family drama out of the situation. An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances and can also advise you on naming an executor. Reference: Wills, Trusts & Estates Prof Blog (Oct. 12, 2017) "The Wrong Executor Can Make Family Drama Worse, As Jerry Garcia's Heirs Discovered."