What duties do executors have?

When selecting an executor for your estate, it is important to do so with the executor’s duties in mind.

After all, while you may have someone in mind to serve as your executor, do they have what it takes to fulfill all of the tasks, duties and responsibilities that executors must manage?

Communication and organization skills

Forbes discusses what executors for estates do. They essentially hold the highest position in an estate plan with the most power after you yourself. After your death, they will handle most of the organization and communication between different parties and members of your estate plan, like your attorney and financial advisors.

Executors not only manage communication between people, but they also manage communication between the estate and debtors, along with communications between the estate and beneficiaries.

Handling your assets and funeral

In short, it is up to the executor to divide your assets after probate in accordance with your will and ensure that everything gets into the right hands. This includes managing any of your outstanding debts and ensuring that you pay off any of the debtors owed.

On top of that, executors often manage funerary arrangements. They will usually see to it that your body gets treated after death in the way you wish, and they will often buy various items needed for the funeral, or rent out the venue as needed.

In other words, executors need to have numerous skills like time management, self-management, organization, clear communication and more. Your pick for executor should have these traits to serve your estate well.