Few roles carry greater responsibilities than being an executor of an estate. Essentially, an executor is tasked with carrying out the precise instructions of a will and handling other matters regarding the estate.
Nonetheless, the precise responsibilities of an executor are a bit more nuanced than this. Outlined below are some important factors to keep in mind and three of the executor’s key jobs:
Preserving the testator’s final wishes
Every estate plan is unique, as are the final wishes of each testator. It is the executor’s responsibility to uphold the precise wishes of the relevant testator. For instance, they should understand the testator’s wishes in terms of funeral preferences. They should also be fully aware of the beneficiaries included in the will so that assets go to the appropriate people.
Being familiar with key documents
A will can only be precisely followed if it is accessible to the right people, and the executor is one of these people. The executor should have easy access to copies of all documents that reflect the testator’s true wishes. Not having access to these documents can result in will contests should the testator pass away.
Working with the appropriate parties
The executor is just one of the key individuals involved in distributing assets in an estate and honoring the final wishes of a testator. The executor should work alongside relevant third parties, such as attorneys and accountants, to ensure that estate planning documents are valid and honored.
Estate planning is a worthwhile process but it can be nuanced. That’s why it’s so important to have legal guidance on your side as you contemplate the future.