In order to settle an estate, executors often need to accomplish numerous tasks which vary in complexity and how much time it takes to finish.
Many people do not understand this when choosing an executor or when becoming one, though. This leaves people tragically underprepared for the amount of work that really goes into the role.
Managing the funeral
Executor.org discusses the primary roles and duties of an executor. One of the first is to plan and manage the funeral. The details of the funeral are, of course, up to the individual who wrote the will.
However, it is up to the executor to ensure that their wishes actually get carried out. The executor must also do this with estate funds, which directly impact the beneficiaries, so they must keep this in mind when working out funerary arrangements.
Get the death certificate
This process is usually relatively quick as long as the executor has the correct and necessary documents. It is also important to pick up multiple certified copies, as the executor will need them at several points throughout the process.
Notify necessary organizations about the death
This can include creditors, partners in business ventures, charities and more. It is important to give all necessary parties notification of the individual’s death so that they can proceed accordingly.
Manage the estate
This means continuing to pay ongoing bills that are necessary and going through to shore all unnecessary expenses. For example, the water bill in a house still needs payment, but magazine subscriptions can all get canceled.
This is just a small sampling of the duties that executors have. It is also why many benefit from the support of a legal team throughout the process.
