An executor is the person you name in your will as your personal representative.
There are numerous duties that an executor has to perform. It can be a very onerous task including duties such as locating and reading the will, obtaining the death certificate, making the funeral arrangements, arranging immediate funds for survivors, notifying the beneficiaries and others, preparing a list of the assets as well as a list of the liabilities of the estate, valuing and protecting the assets, advertising for creditors, applying for probate and last, but not least, preparing and filing income tax returns.
As an executor, one of your most important duties is to ensure that the deceased’s assets are protected from loss, theft or destruction until such time as they are sold or distributed. If you fail to properly protect the assets and the estate suffers a loss, you as the executor may have to make up that loss. You may decide to move certain assets to secure storage. Or you may simply call the deceased’s insurance broker and ask that you, as the executor of the estate, be added to the insurance policy. If the deceased owned a business, you will have to arrange for the continued and proper management of that business.
To have our team assist you as the executor as you navigate the probate process will significantly reduce your risks as an executor. We are but a phone call away.