Right now it doesn’t seem like you have much of a decision to make,but before you decide whether to be the executor of an estate. You have been informed you were named as the executor of your loved one’s estate in his will. Your loved one trusted you enough to administer his estate and to look out for his beneficiaries. It is undoubtedly a significant honor. Yet, the truth is that being an executor can also be a significant burden.
You Have a Decision to Make
Before you decide whether to be the executor of the will, it is important to consider whether it is an obligation that you can fulfill over the coming months. There will be many deadlines and details to attend to before the administration of the estate is completed. Accordingly, you might want to think about:
- Whether you are in a position to be an effective executor. Do you have the time to administer the estate? Do you live close enough to handle the estate? Are you able to take on this responsibility?
- Who else may serve as executor. Many wills name successor executors just in case the first person named is unable or unwilling to serve as the executor at the time that the will needs to be administered. Even if there is not a successor executor named in the will, the court may appoint one if you cannot serve as executor.
- Will you ask for help? Are you willing to talk to lawyers, CPAs, and other professionals as necessary if you need help?
The person who died named you as the executor for a reason. He believed that you were trustworthy and that you would look out for all of his beneficiaries. If you can fulfill this responsibility then you are paying that person the ultimate kindness—you are doing a favor that can never be returned. However, if you decide to move forward as the executor then it is important to see the job through until it is completed.
Thus, it Is Important to Make Sure Your Decision Is an Informed One
If you have any doubts about whether you can serve as the executor of your loved one’s estate, then it is important to talk to an experienced estate planning lawyer now. Get all of your questions answered before you decide whether to be the executor of an estate, and weigh the pros and cons of accepting or denying the executor ship before you make your final decision.
If you would like to discuss your specific circumstances then we encourage you to begin a live chat with us today. We will give you all of the information that you need to know about being the executor of an estate in California, and we will help you reach the decision that is right for you.