Being selected as an executor is an honor, despite the long list of responsibilities.
What most people don’t understand, however, is that it’s also a major burden, especially if your loved one hasn’t prepared anything in advance.
The job of the executor can be very stressful, especially when grieving the loss of a loved one.
Executing the will is one of the responsibilities of the executor; however, there is an extensive list of additional duties.
Depending on the complexity of the particular family affairs and the level of preparedness, or lack thereof, the number of responsibilities of the executor can range from few to seemingly infinite.
Some of the more common duties of the executor are:
- Filing the will in a local probate court
- Paying debts
- Paying taxes
- Overseeing the distribution of the deceased’s property
Some responsibilities of the executor that people often overlook:
- Deciding whether or not probate court proceedings are necessary
- Setup of an estate bank account
- Terminating credit cards, leases, etc.
- Notifying banks and other government agencies of the death