Dealing with estate planning is not easy for anyone, least of all the executor. They act as a manager of sorts and have the kind of responsibilities that someone could expect of a managerial position.
So who is up to the task of handling this sort of responsibility? What can a person look for when trying to select an executor for his or her own estate?
Communication and managerial duties
Forbes talks about the duties associated with executors. Generally speaking, executors handle a large number of the matters associated with probate and estate planning.
For one, they will often manage the funeral itself. They make sure the arrangements happen as needed and also pay for it through the estate. They will ensure the body ends up handled in accordance with the decedent’s wishes, too.
Next, they have to communicate with all other professionals working with the estate. This can include financial advisors, personal representatives, attorneys and more. Everyone needs to stay on the same page to get the estate through probate.
Speaking of, they also manage financial matters. This includes paying the last taxes, paying off any debts remaining, and continuing to pay bills that need maintenance like power bills to a house while also ending bills that are no longer necessary.
The skills an executor needs
Thus, an executor needs several traits. They should have strong organizational and self-management skills, leadership abilities and the ability to stay on task and get things done in a timely fashion. They also need people skills to work with both professionals and the loved ones and family members of a decedent, especially in a time of emotional crisis.
By picking an executor with these skills, it helps ensure the probate process goes as smoothly as possible.