Thinking of Naming an Executor? Here’s What You Need to Know
Have you been asked to serve as an executor, or are you choosing someone to fill this role in your own estate plan? Before saying yes, or assigning the responsibility, it’s important to understand exactly what the executor does and why the choice matters.
An executor is far more than a “paperwork person.” They have a legal duty to act in the best interests of the estate at all times. This includes managing finances, protecting property, and ensuring that your final wishes are carried out properly.
What an Executor Is Responsible For
A well-chosen executor may be responsible for tasks such as:
✔ Managing and Protecting Assets
This includes bank accounts, personal belongings, vehicles, investments, and other property included in the estate.
✔ Handling Real Estate Matters
Executors may need to sell, mortgage, or lease property during the estate administration process.
✔ Overseeing Tenants or Rental Properties
If the estate includes income-producing real estate, the executor may need to communicate with tenants, collect rent, or coordinate property management.
✔ Maintaining and Insuring Property
Homes and other real estate must stay insured, secure, and well-maintained until they are transferred or sold.
These tasks require organization, communication, reliability, and the ability to make decisions under pressure. It’s a role that should only be assigned to someone you trust deeply.
Choosing the Right Executor Matters
Every estate is unique. The right executor for one person may not be the right choice for someone else. When selecting an executor, consider factors such as:
-
Their ability to stay organized
-
Financial experience or willingness to seek professional help
-
Availability and willingness to serve
-
Neutrality—avoiding unnecessary family conflict
A thoughtful choice can make the entire estate administration process smoother and less stressful for your loved ones.
Have Questions About Naming or Serving as an Executor?
We’re here to help you understand your options and choose the right person for your estate plan.