Executor for Your Estate
The executor of your estate is charged with the responsibility of carrying out the provisions of your Last Will and Testament. When choosing your executor, you should look for the following qualifications:
- Technical Ability - An executor's responsibilities require a variety of skills in the fields of taxes, accounting, and wealth management.
- Experience - Has your candidate ever been an executor before? Experience is necessary to handle the various issues which arise during the administration of an estate.
- Impartiality - Your executor should be able to balance impartiality with concern and understanding in dealing with your beneficiaries. By designating an impartial executor, potential family disputes can be avoided.
- Continuity - Simply stated, will your executor be available to see your financial plans through to their conclusion? As a corporate fiduciary, we enjoy a continuing life and hence are always available.
- Time - Your executor should have the time to make your objectives a foremost concern. While Wayne Bank generally acts as a sole executor, we welcome the opportunity to serve as co-executor with whomever you desire.
Estate and Tax Planning
The objective of estate planning is to organize your affairs and make the best possible provisions for your heirs. Taxes and administration expenses, therefore, will be minimized to the fullest practical and legal extent. Planning should be natural, fair to all concerned, and most importantly, workable so that your executor can carry out the provisions of your Last Will and Testament as directed.
For information regarding our services, please call (570) 253-8507 or (800) 869-8297 and we will be happy to answer your questions. You may fax information to the Wealth Management and Trust Services Division by dialing (570) 253-4162.