What are an executor’s duties?

On Behalf of | Feb 28, 2023 | Estate Planning

When choosing your executor, you want to keep several things in mind. First, you want someone who is on the same page and whose values align with yours. You want the best representation when you no longer have a voice.

However, you also need to keep in mind the actual workload that your chosen executor will face.

Staying through probate

Forbes looks into what exactly executors do. Executors hold a lot of responsibilities and accomplish many duties during their time serving an estate. Not only that, but they will stick around for the duration of probate, which can sometimes last years. So first and foremost: your chosen executor needs to have the time necessary to handle this matter.

Self-management and social skills

Next, they should have some experience with self-management. They will not answer to anyone else when it comes to figuring out what to do and when to do it, except for following the advice and guidance of attorneys who will likely need things filed and signed in accordance to legal deadlines.

Social skills are a must. Not only will they interact with all other key figures in the estate plan, but they will also handle any debtors that you owe money to, and your beneficiaries. This is often especially difficult in the time shortly after your death, when emotions run high.

They also need some financial experience. They will pay off your remaining debt, file your last tax form, keep up with bills and cut off any bills that your estate no longer needs.

This is a lot to remember and it requires a varied skill set, which unfortunately not everyone has.