Should You Accept the Role of Executor to Settle an Estate?
When a relative or a friend dies, there’s the surprise chance that you could have been chosen to be the executor of the estate. In this case, you would probably feel a sense of responsibility to the deceased, that you would have to perform the role of executor because they trusted you enough to list you. However, you might also feel that you aren’t the best choice for the job, that it’s something far too big for you.
The good news is that you aren’t stuck in this position. You can choose whether or not you actually want to perform the role of executor for someone’s estate. To help you make that decision, here are some tips to consider regarding the role of an executor.
- The Skills Needed in an Executor
An estate’s executor needs to be honest, well-organized, committed to doing things right, and have the spare time from their regular job to handle distributing the estate. The executor will spend months properly organizing the estate’s assets and ensuring it is correctly inherited. If you don’t do well managing accounts and details, it might be best to pass on being the executor.
- The Complexity of the Estate
Along with the skill needed to be an executor, you should consider the size and complexity of the estate before accepting the role. If the estate isn’t too complex, you shouldn’t have to worry about the job being too difficult.
- Your Attachment to the Estate
If you have a small stake in the outcome of the estate, it won’t be as big of a deal if you pass on the executor role and allow someone else to handle it. If you’re to inherit a major portion of it, however, it might be best to be the one who oversees the allocation of what will soon be your property.
- Family Attached to the Estate
Numbers aren’t all that matter when deciding whether or not you should be the estate’s executor, sometimes it simply boils down to who else is on the inheritance list. If there’s a feud going on within the family, or if they seem to be the kind of people who would argue every detail about the inheritance list, you might want to pass on being the executor. An angry family can cause many legal complications and delays.
In the end, when it comes to handling the role of executor, you mostly need to make sure it’s someone who can handle the job. If you think you can do it, but still have some fears about the whole process, I would suggest calling us to speak with an estate planning attorney. An estate planning attorney is a legal professional skilled in handling estates, and they would be your top source to go to with questions on how to properly perform the role of an executor.
Call us today to speak with an estate planning attorney and see how we can help you perfectly fulfill the duties of an executor.
