Being an Executor

An Executor is defined as the person responsible for managing the administration of a deceased individual’s estate.

In certain states it has a different title such as in Florida, where I now live it is called a Personal Representative.

The time and effort involved in carrying out an Executor’s duties depends upon the size and complexity of the estate. As the Executor of a small estate you will have important duties that must be performed correctly. If not done correctly, you may be liable to the estate or the beneficiaries for damages

The Executor is usually named in the will. If there is no will, that person is appointed by the court. Even if you are named in the will you do not have to accept the position of Executor if you are not willing to handle the responsibilities.

On the average, estate administration takes one year to complete. It does not require full time work, but there are waits for certain actions to take place.

The following are some of the duties you will perform as Executor:

• Locating documents. First, you must locate the original will. Hopefully it is in safe keeping with a lawyer, with a trusted…