What exactly does an executor do?

What exactly does an executor do?

When North Carolina residents begin estate planning, they most likely think very seriously about who should oversee their last wishes. Most people who are asked to be an executor consider it an honor; however, they may not have a true idea of what exactly is involved with the job. The responsibility can eat up a lot of time, can be frustrating at times, and often requires a certain amount of business sense.

Properly preparing

Those considering accepting the role of executor should make sure to learn as much as possible about what the role really entails. The following questions might be instrumental is making a person really think before saying yes to this important position:

  • How complex is the estate? Are there assets that could be difficult to value? Should a professional be hired to do so?
  • How complicated is the estate? Are there wishes that might be difficult to enforce?
  • What kind of condition is the estate in? Will the testator accept help to organize documents?
  • Are beneficiaries going to be helpful or cause problems?
  • Will the job impede any family obligations of the proposed executor?
  • Is the would-be executor going to be paid for his or her services?
  • Is there anything in the estate plan that could make the executor feel uncomfortable and not able to deal with the task?

Typically, being asked to be an executor or estate administrator means the testator thinks a great deal of the person and believes he or she can handle the job. However, it could also be the case that the testator really doesn’t have an idea of what the job of the executor entails. Not everyone is always right for the role of executor no matter how willing they may be to take it on.

When getting estate documents in order, a testator in North Carolina should have some idea of what it’s going to take for an executor to fulfill the wishes outlined in the estate plan. At the same time, a candidate for executor should have some idea of what the potential role would entail and do some self-evaluation before accepting the position. Acquiring legal advice may help a person to decide whether it would be in his or her best interests to accept this honorable and serious job.

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