Pursuing Peace Of Mind For You And Your Family

What should an executor prepare to handle?

When you pick an executor to help handle matters of your estate plan, you should make the choice carefully.

After all, an executor will deal with a huge number of responsibilities. What exactly should they prepare to handle?

Dealing with finances

Forbes talks about the duties of an estate executor. First and foremost, executors will act as a central figure for estate plan organization in the wake of your death. They will manage matters such as ensuring your body gets the post-mortem care you wish for.

They also handle financial matters. This spans from ensuring that funerary matters get paid for, all the way to paying any outstanding debts off. They will also maintain any ongoing bills that are necessary, such as electricity or heat in a winter estate. They will file your final taxes, as well.

Involving other professionals

They will interact with almost every other member of your estate plan, too. This includes professionals such as an attorney or financial advisor. It also includes your beneficiaries.

Thus, an executor needs a good number of skills to handle these responsibilities. They need a strong sense of time management and the ability to self-manage, as no one else will tell them what to do or when to do it.

Having good interpersonal skills helps a lot as well, as they will deal with people in vulnerable states of grief and emotion.

While you may want a family member to serve as executor because they know you well, you should consider these other factors before making a final pick.