Choosing the Right Fiduciaries for Your Texas Estate Plan
When creating an estate plan in Texas, one of the most critical decisions you’ll make is choosing your fiduciaries—the people who will be legally responsible for carrying out your wishes after death or during incapacity. Naming the right individuals or professionals to these roles helps ensure your estate is administered smoothly, assets are protected, and your loved ones are cared for according to your wishes.
In this article, we’ll explore the key fiduciary roles in a Texas estate plan and what to consider when selecting someone for each.
What Is a Fiduciary in Estate Planning?
A fiduciary is someone who has a legal and ethical obligation to act in the best interest of another person. In the context of estate planning, fiduciaries may include your executor, trustee, guardian for minor children, and agents under power of attorney. Each role comes with serious responsibilities, so it's essential to choose people you trust and who are capable of performing the tasks required.
1. Executor of the Will
Your executor (sometimes called a personal representative) is responsible for handling your estate after you pass away. Their duties include:
Locating and valuing assets
Notifying beneficiaries and creditors
Paying final bills and taxes
Distributing property according to your will
When choosing an executor in Texas, look for someone who is:
Organized and responsible
Financially literate
Willing and able to serve
Respected by your family members
Most people name a spouse, adult child, or trusted family member. It’s wise to name an alternate executor in case your first choice is unable or unwilling to serve. You may be wondering if it is helpful to name your attorney to serve. It is usually not necessary to name an attorney to serve in the executor role, since all executors are required to have attorney representation for the probate process.
It is possible to list a bank professional as your executor, if welcomed by your bank. However, you should note that there are usually high fees when it comes to professionals serving in this role.
2. Trustee of a Trust
If your estate plan includes a revocable living trust or testamentary trust, you’ll need to name a trustee to manage those assets. A trustee’s responsibilities can include:
Managing and investing trust property
Making distributions to beneficiaries
Keeping records and filing tax returns
Acting in accordance with the trust’s terms
You can name a trusted individual, a professional trustee, or a corporate fiduciary. In some cases, it may make sense to appoint co-trustees—one who manages daily administration and one who oversees investments. This setup can provide checks and balances and help reduce family conflict.
Your attorney can also discuss creating trustee advisory persons or groups, that can provide guidance when it comes to specific aspects of your estate, such as real estate or stocks.
3. Guardian for Minor Children
For parents of minor children, naming a guardian is one of the most emotionally difficult yet essential parts of an estate plan. If both parents pass away or become incapacitated, this person will be responsible for raising your children.
Key considerations include:
Parenting style and values
Location and stability
Age and health
Relationship with your children
Willingness to serve
Talk to potential guardians in advance to ensure they understand and accept the responsibility. You can also name alternate guardians in case your first choice is unavailable.
It is important to note, individuals that are designated for the role are still required to be appointed by the Court. The Court will heavily consider your choices, however, the Court is required to choose a person who can serve in the best interest of the child and their estate.
4. Agent Under Durable Power of Attorney
A durable power of attorney allows you to name someone to handle your financial affairs if you become incapacitated. This person can:
Pay bills
Access bank accounts
Manage investments
Handle real estate and legal matters
The agent you select should be trustworthy, financially savvy, and capable of acting in your best interest. Many people name a spouse, adult child, or close friend. Consider naming a backup agent and talk with your estate planning attorney about whether a co-agent arrangement is appropriate.
5. Medical Power of Attorney Agent
A medical power of attorney gives someone the authority to make healthcare decisions on your behalf if you’re unable to do so. This is especially important in emergencies or end-of-life situations.
Choose someone who:
Understands your healthcare values and wishes
Can make calm, informed decisions under pressure
Will advocate for your care preferences
Common choices include spouses, adult children, siblings, or close friends. Be sure to have a conversation about your medical wishes and end-of-life care preferences.
Final Thoughts: Choosing Fiduciaries for a Texas Estate Plan
Selecting fiduciaries is not a decision to take lightly. Each role comes with legal and practical responsibilities, and the wrong person can complicate or derail your estate plan. It’s important to:
Choose individuals who are trustworthy, competent, and available
Have open conversations with your chosen fiduciaries
Name backup fiduciaries in case your first choice cannot serve
Work with an experienced Texas estate planning attorney to ensure your documents are clear and legally sound
At Whitney Thomas Law, we help Texas families create estate plans that reflect their values and protect their loved ones. If you’re ready to start your estate plan—or update an existing one—contact us today to schedule a consultation.
