Executor of a Will or An Estate: 3 Helpful Tips

As an executor of a Will or an Estate, you are responsible for assets getting to the correct beneficiaries. This is a large job, that usually comes while still in grieving. To accurately do the job, you need to be organized and pay attention to details. This job can easily become overwhelming. Here are three tips to assist you in your executor responsibilities.

Executor of a Will Tip 1: Get Organized

Create a file or a binder to keep track of estate planning documents.  Include information such as:

  • contact information of beneficiaries,
  • death certificates,
  • bills,
  • financial statements,
  • and insurance policies.

Set up a meeting with an Estate Planning Attorney, as they can point you in the right direction. Even if you plan to tackle most or all of the responsibilities of an executor of a will, a meeting with an Estate Planning Attorney can help you to come up with a plan.

Executor of a Will Tip 2: Communicate

As an executor of a will or estate, you are a liaison between multiple parties related to the estate, such as:

  • the heirs,
  • the courts,
  • the creditors,
  • the IRS,
  • insurance companies,
  • and any other related parties.

Include in your file or binder an up-to-date list of everyone’s contact information. Keep a record of all work that you do as an executor, such as letters, emails, and notes from phone calls and the dates of those communications. You may not think that disputes will come up, but if they do, this should allow for disputes to be resolved more quickly. Also, when there is open communication, there is less risk for misunderstanding.

Executor of a Will Tip 3: Get Professional Help

In some states, it is a requirement for an executor of a will or estate to retain legal counsel. Along with the responsibility of being an executor, also comes liability. An Estate Planning Attorney can help you during this process, as well as leave you with peace of mind.

If you have been appointed as an executor of a will, we can provide skilled counsel to help you through the process. Contact us to help you draft your own estate plan, so your family can avoid the stress of probate. Give our office a call today for an appointment. We look forward to hearing from you.

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