How to Determine if You Should Accept the Role of Estate Executor
When engaged in the estate planning process, individuals should name someone they trust to be the executor of their estate. If you have been asked to be a friend or family member’s executor, it is important to fully understand your potential duties before accepting the position.
No two estates are alike, and the challenges of being an executor might range from simple decisions to highly contentious disputes. If you are already familiar with the property or finances of the decedent or the estate is relatively small, your responsibilities as executor may be fairly straightforward. Conversely, if you are unfamiliar with the details of the estate or the estate is large and intricate in nature, acting as executor could be difficult.
Keep in mind that as executor, you will be responsible for locating and carrying out a person’s will, which may include sorting through investments, finding insurance policies, working with creditors and distributing assets. You will want to consider factors that might impact your role, such as whether or not you live far away from probate proceedings, the influence your role as executor may have on familial relationships, whether you have the time to appropriately settle the estate and whether or not a coexecutor is needed.
Also, take a moment and reflect on if you have the personal qualities and temperament to handle the estate in an organized, non-confrontational and careful manner.
Know your options
If you do not believe you are best suited to accept the position of executor of a person’s estate, you may appoint another individual as the executor, resign at any time or hand over all probate administration to a trusted lawyer. If you accept this role, you might also wish to work with an experienced lawyer, who can guide you through the process and explain your state’s probate laws.
For more information on handling the probate process, speak with a skilled Florida attorney at the Charles Law Offices.