One of the most important reasons to make a will is to name your executor. After your death, your executor’s primary job is to protect your property until any debts and taxes have been paid, and then transfer what’s left to those who are entitled to it.
Every state has some rules about who may serve as the executor of an estate that goes through probate. Here are the requirements in Texas.
Your executor must be:
(Tex. Est. Code Ann. § § 304.003, 1002.017, 1002.019.)
Many states prohibit people who have felony convictions from serving as executor. In Texas, you cannot name an executor who has been convicted of a felony under any state or federal law, unless he or she has been pardoned or had all civil rights restored. (Tex. Est. Code Ann. § 304.003.)
In addition to the restrictions above, a Texas probate court will reject a potential executor found to have a conflict of interest or be otherwise “unsuitable.” (See Tex. Est. Code Ann. § 304.003; 931 S.W.2d 607.)
While you can name a corporation as your executor, it must be authorized to act as a fiduciary in Texas. (Tex. Est. Code Ann. § 304.003.) That said, think carefully before appointing a bank or trust company to represent your estate. It’s almost always best to name an individual; consider an institution only if you don’t know anyone you trust enough to serve or your estate is very large and complex.
For practical reasons, it’s smart to name an executor who lives near you. Your executor may have to handle day-to-day matters for weeks, months, or sometimes longer. If you must appoint an executor who lives far away, you should know the requirements Texas imposes on out-of-state executors.
In Texas, a nonresident executor must appoint someone who lives in the state to act as a resident agent. Your executor’s in-state agent will accept legal papers on behalf of your estate. (Tex. Est. Code Ann. § 304.003.)
For more information about choosing your executor and making your will, see the Wills section of Nolo.com.