What are some tips to being an executor?

Being named an executor of an estate likely means that you’ve lost someone close to you. Dealing with death is never easy and overseeing the estate can be complicated, but staying organized can help you manage things smoothly. We’ll show you what to do when you become executor of the estate and what steps you should take to stay on track.

An executor is considered the “personal representative” of the estate and is legally responsible for protecting the home, savings and other assets of the deceased person — perhaps a parent or grandparent — until the probate process is complete and the assets are disbursed. Your main job will be to make sure the assets are distributed according to the deceased’s will or trust.

  1. Obtain the death certificate
  2. Find the will or trust
  3. Seek advice
  4. File letters of testamentary
  5. Locate and protect assets
  6. Pay bills and taxes
  7. Don’t rush the process 

You can always say no if you’re unable or unwilling to serve as executor. The backup executor can step in, or a probate judge can name a replacement.

A FEE-ONLY professional can help you understand changes in elder law and advise you on how to protect your legacy. Our network of FEE-ONLY financial advisers, CPAs and attorneys can help you review your will to protect your legacy and achieve your wishes. Simply Click Here to connect with a FEE-ONLY professional. Alternatively, visit 1800ADVISER.COM to browse biographies of individual advisers and choose one or more to connect with. 

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