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Are you right for the role of estate executor?

On Behalf of | Apr 23, 2022 | Estate Planning

When someone asks you to be the executor of his or her estate, it is an honor. Usually, this request means that the person trusts you and believes that you will adhere to his or her wishes about what happens with the estate after his or her death.

As an executor, you become like an advocate for the person. You are present after he or she dies to ensure the smooth running of the estate until the heirs receive their inheritances. The American Advisors Group explains the duties you have as an estate executor are serious and require that you understand whether you can handle the job.

Consider the estate

It is important that you know a little about the estate. A simple one should not take a lot of time to finalize and will generally be easy for you to handle. A complex estate, though, can take a lot of your time and effort to finalize. You may need to have special skills to handle the job. Make sure you discuss the estate and the plans the person has before accepting the job.

You also want to go over any potential issues. Be realistic and force the other person to as well. Consider if there may be someone who will cause trouble or who will not be happy with the final decisions. Create a plan together for how to handle any possible complications.

Think about your role

You need to understand that you will have many duties to handle. You may have to manage the estate’s finances, look for heirs, settle disagreements, answer questions, and file tax documents. Make sure you are aware of every duty you will have under the law, and ensure that you can handle them.

In the end, the decision is yours to make. You may want to ask the person why he or she chose you. This might give you everything you need to know to make a decision because if the person has a lot of faith in your ability, then you probably can handle the job.