E225 3 Recent Solo Ager Estate Plan Questions

<p>The following are three recent questions from our Solo Ager listeners. Thanks for your questions!</p> <h2><span data-offset-key="460be-0-0">Is a bank as an executor better?</span></h2> <p><span class="veryhardreadability"><span data-offset-key= "bpk8a-0-0">This question comes from a Solo Ager who listened to our previous podcast</span></span> <a href= "https://anthonyspark.com/e221-will-my-executor-serve/"><span data-offset-key="bpk8a-1-0"> episode 221</span></a><span class= "veryhardreadability"><span data-offset-key="bpk8a-2-0">, where we discussed whether executors are</span></span> <span class= "adverb"><span data-offset-key= "bpk8a-3-0">contractually</span></span> <span class= "veryhardreadability"><span data-offset-key="bpk8a-4-0">bound to serve</span></span><span data-offset-key="bpk8a-5-0">.</span></p> <p><span class="hardreadability"><span data-offset-key= "79pfp-0-0">Our listener asks, “since professional executors are not</span></span> <span class="adverb"><span data-offset-key= "79pfp-1-0">contractually</span></span> <span class= "hardreadability"><span data-offset-key="79pfp-2-0">bound, aren’t banks better</span></span><span data-offset-key="79pfp-3-0">?” The short answer is: No. Banks aren’t</span> <span class= "adverb"><span data-offset-key= "79pfp-4-0">contractually</span></span> <span data-offset-key= "79pfp-5-0">bound, either. Individuals and banks are on the same level</span> <span class="complexword"><span data-offset-key= "79pfp-6-0">regarding</span></span> <span data-offset-key= "79pfp-7-0">that issue.</span></p> <p><img class="aligncenter size-medium wp-image-10504" src= "https://anthonyspark.com/wp-content/uploads/2021/07/Is-a-bank-as-executor-better-300x169.jpg" alt="Is a bank as executor better?" width="300" height="169" /></p> <p class= "public-DraftStyleDefault-block public-DraftStyleDefault-ltr" data-offset-key="6kpp-0-0"><span data-offset-key="6kpp-0-0">This leads us to the next question: why wouldn’t a bank take an estate? To answer this question, you have to think far ahead 10,