Question

Pia, age 48 and single, is working with her attorney to prepare a will. Pia currently lives in New York, but also owns homes Colorado and Florida, and wineries in California and France. Pia has two children, Patrick (age 30, lives in Minnesota and recently recovered from a gambling addiction), and Pandora (age 22, lives in Washington, D.C. and just graduated from college). Pia's parents are both deceased, but she is close to her Uncle Albert, who is age 80 and lives nearby in New York.

Which of the following is the best choice to serve as Pia's executor?
a. Question 3 options:
b. Uncle Albert.
c. Patrick.
d. A corporate executor.
e. Pandora.

Answer 1

A corporate executor (option D) is likely the best choice to serve as Pia's executor due to their expertise in managing estates, impartiality, and ability to handle properties and businesses across multiple states and countries. Uncle Albert's age and Patrick's past addiction make them less ideal candidates, while Pandora's lack of experience might also be a concern.

Step-by-step explanation:

The best choice to serve as Pia's executor should be a person or entity that is reliable, capable of handling complex financial matters, and is likely to outlive Pia. Given the details provided:

• Uncle Albert: While he is close to Pia, his age (80) could be a concern for longevity.
• Patrick: Recently recovered from a gambling addiction, there might be concerns about his ability to manage the estates.
• A corporate executor: This could be a bank or trust company that specializes in managing estates and might be most capable due to their experience and impartiality.
• Pandora: Although young and possibly less experienced, she could be a potential choice if she's responsible and trustworthy.

Considering the complexities of managing properties across multiple states and countries, and concerns about Patrick's past addiction and Uncle Albert's age, a corporate executor might be the most prudent choice for Pia. They have the expertise to handle interstate and international estate matters, and their professional nature could ensure a fair and efficient execution of Pia's will.