I am not married and have no children, which means the handling of my personal property and finances in the tragic event of my death is less cut and dry than if either of those existed.
I am putting together a living will to handle end of life care, and items like that, but, I find that what I would prefer to do with my finances might need to be a bit taylored to the exact situation at the time of such a tragic demise.
As such, I am considering using an executor to handle certain aspects on the financial and personal property side.
So my questions are:
Is there any reason I should not consider a long time personal friend of similar age that my family knows quite well, and whom I consider to be a fair and financially responsible individual, as an executor of my will/estate?
Should I name his wife, whom I also trust, as a co-excutor (executris?), or just leave him as the only one?
For obvious reasons, I do not plan on naming them in my will in such a way as they have financial gain from the executor process.
Also, we're not talking enormous money here. At this point in my life, total estate value counting life insurance would be less than $500,000 US.