When thinking about the role of an estate executor, many important activities come to mind: distributing assets according to the will and paying any bills or claims against the estate are two tasks that an executor must perform. But he or she may also need to pay any estate and inheritance taxes, settle the estate with the probate court, and collect any money that is due. Funeral expenses are another item that must be dealt with. In the days following a loved one’s demise, these activities can seem an undue burden, but upholding a sense of duty and diplomacy amidst the inevitable emotional turmoil will make a positive impact on the family members involved. In light of these challenges, it is a good idea when creating a will to choose an executor who is reliable and will make an effort to handle these responsibilities in the best possible way.
About the author: As president of Global Wealth Advisors in Baltimore, George Divel provides personalized investment advice and estate planning services to his clients to help them make informed investment decisions.