How to Make an Estate Executor’s Job Easier
When you decide who will be the executor of your estate, it’s important that you provide that person with as much information and as many resources as possible to make the job go as smoothly as possible.
The following are some strategies you can use so that your executor can be better prepared to carry out his or her duties:
- Compile a list of all assets: Executors should have a full list of all assets included in the estate, organized by who will be receiving which assets according to the will. The list should also include information such as how much each item is worth (or how to find out the value of the item) and where the item is located.
- Get access to all documents: You should make sure your executor has all the access he or she needs to your various estate planning documents. This means informing the executor of where these documents are located and providing any information needed to access safe deposit box, password-secured computer files and other protected storage areas.
- Establish plans for assets that might be hard to sell: These assets might include businesses, collections or unusual investments. Get information on the best strategies you can use to offload these assets if they will not be passed down to heirs. It’s best to be prepared to avoid forcing the executor to make an uninformed decision.
- Resolve family disputes before they begin: The estate executor should ideally never have to deal with infighting among family members. Long before you pass, you should make all family members aware of the contents of your estate plan and the reasons for the decisions you have made.
- Settle debts if you can: Executors are responsible for resolving any debts you leave behind. If you are able to settle some of these debts yourself, it will make your executor’s job much easier.
To learn more about how you can appoint an effective estate executor to oversee your wishes, speak with a knowledgeable Tampa estate planning attorney at BaumannKangas Estate Law.