Share |

The Responsibilities of an Executor of Will

Sunday, August 11, 2013

The executor of Will is the person that the maker of the Last Will and Testament has appointed to be responsible for the administration of the estate after his death.

Usually, the executor of Will, sometimes known as the personal representative, is a member of the family or a trusted advisor. Sometimes, the maker of the Will has not notified the executor of the appointment during his lifetime, making the responsibility a bit of a surprise. So, if you are a first-time executor of Will and sort of uncertain on what to do, check out the following:

1. After a person's death, the very first an executor must do is to locate the Will. Usually, a copy is amongst the "important papers" of the deceased. The copy would often provide you with vital clues as to where the original document is hidden. It can be at the office of the lawyer or with a trustee company. The executor of Will should contact the holder of the original Will, notifying him of the death.

2. It is wise to leave the original paper wherever it is for the meantime and ask that a couple of certified copies be sent to the executor of Will.

3. If the decedent or the executor of Will is securing the original paper, it is important that its condition is not modified in any way. To be specific, the staple should not be taken off for duplication purposes. There should not be any notes written on it. Also, there should not be any fastening devices like glider clips be attached on the original Will. These will cause additional trouble, expense, and time in estate administration if an application must be made to the Probate Court.

4. The executive must familiarise himself with the the things written on the Will. Normally, it contains a clause relating to required or preferred funeral arrangements.

5. The next duty of an executor of Will is to make appropriate funeral arrangements either based on the requirements of the family of the deceased or with the decedent's wishes laid out in the Will. Typically, the funeral director will make clear that the person doing the funeral arrangements is responsible for the expenses, but most Last Will and Testaments mention that funeral expenses needs to be taken from the estate. At an appropriate timing, discuss relevant matters about the Will with the decedent's loved ones and other beneficiaries.

6. As soon as possible, the executor of Will has to take steps to identify and safeguard all assets. For example, the deceased's home and other properties with similar value, have to be safeguarded. Credit cards should be located and destroyed, banks should be informed of the death so they can freeze all accounts. Mails should also be redirected.

If you need professional help in estate administration, go to the website of Estate Administation Services and meet a highly experienced and knowledgeable executor of Will.