If you are planning or administering an estate, one of the most important decisions you will make is who should serve as the estate's executor. The executor is the person who is responsible for carrying out the instructions in your trust or will, paying your debts and taxes, and distributing your assets to your beneficiaries. It is an important role that requires a lot of time, attention, and skill.

Generally, there are two options. One option is to appoint a professional fiduciary as your executor. A professional fiduciary is licensed and regulated by the state to provide fiduciary services, such as acting as an executor, trustee, guardian, or conservator. Some of the benefits of choosing a professional fiduciary are:

• A professional fiduciary will be intimately familiar with the typical tasks required to administer an estate and the rules governing that process. Administering an estate often requires familiarity with several complex areas of law, including your state's trust and probate codes, state and federal tax laws, real estate law, contracts, etc. A professional who does this work regularly will know how to file the necessary paperwork, keep accurate records, communicate with the beneficiaries and creditors, and handle any disputes or challenges that may arise.
• A professional fiduciary is likelier to follow your instructions and administer the estate dispassionately since they don't have any relationship or history with the beneficiaries and aren't a beneficiary themselves. This can help avoid conflicts of interest, favoritism, or resentment affecting a friend or family member serving as the executor.
• A professional fiduciary will have insurance to cover any errors or omissions under their watch. This can protect the estate and the beneficiaries from any potential losses or liabilities resulting from a mistake or negligence by the executor.

Another option is to rely on a friend or family member to serve as your executor. This can be someone who you trust and who knows you well. Some of the advantages of having a friend or family member do the job are:

• They might start with more familiarity about where your assets, debts, and family members are than a professional would. This can save time and money in locating and valuing your estate.
• They might be able to guess better than a professional would how you would handle situations that aren't explicitly addressed in the estate plan documents. For example, if you left a vague or ambiguous instruction in your will, they might better understand what you intended or what would be fair to the beneficiaries.
• Friends and family members often charge little to nothing to complete the job. This can reduce the expenses of administering the estate and leave more money for the beneficiaries.

There is no single answer to who should be your executor. It depends on your personal preferences, the complexity of your estate, and the availability and willingness of your potential candidates. You should weigh the pros and cons of each option carefully and consult with an experienced attorney before making your decision.