An executor holds a lot of responsibility and shoulders many duties in their management of an estate plan. To that end, it is important to pick the right person for the job.
But in order to do that, someone must know exactly what duties an executor performs.
Tasks of an executor
Forbes discusses exactly what executors do in the first place. They act as an overseer and manager of an estate plan, but they have a more hands-on role than what one may typically think of when they think of managers.
For example, they manage funerary affairs. This includes everything from the picking up and storage of a loved one’s body, to ensuring that their body gets handled in accordance with their wishes. It also includes arranging any funeral celebration or ceremony.
They act as a central point of focus for other people working with the deceased person, too. This can include attorneys, financial advisors, tax experts and more. Together, this team will have to sort out any remaining financial matters.
Financial matters can include last taxes, outstanding debts, bills that still need management during the probate process, and severing any unnecessary bills.
Skills an executor needs
An executor needs several skills and traits in order to succeed, thusly. This includes strong self-management, time management and organizational skills. They should also have an ability to self-direct and have an eye for detail.
They also need the emotional fortitude needed for dealing with other grieving people while also likely in a state of grief of their own. It is not an easy task, and those who step up to it should understand what they are getting into.