When you choose an executor for your estate, it is an important decision that you should put a lot of time and thought into.
One of the best ways to choose the best executor for you is by understanding exactly what an executor will handle.
Seeing probate through
Forbes talks about the duties executors have. They hold a lot more responsibilities than many people think, and they will stick with the probate process until it ends. Thus, the first thing you need to consider is how much free time your executor has. Someone with big changes in their future may not suit your needs best.
Managing assets
Next, they have a lot of power over almost all aspects of your estate. They will communicate with your attorneys, financial advisors and more in order to pay off your debts, file your final taxes and ensure that ongoing bills still get paid.
Communicating with loved ones
They also have to handle communicating with your distressed and mourning loved ones, especially in matters of asset division. They carry out your will for you, which includes ensuring that everyone mentioned in it gets their rightful share of your estate after any debts and bills get paid.
Carrying out your wishes
Speaking of, they also ensure that your body gets handled in accordance with your wishes. They will use the estate assets to pay for your funeral, any funerary ceremonies, and things like a casket or urn and other such expenses.
Overall, it is a very stressful position of high authority and responsibility that not every person can handle or carry out well. It is important to keep this in mind when making your choice.
