Being an Executor 101
Months of paperwork, not years of law school.
In short
Being named executor makes you the estate's project manager and its fiduciary, legally bound to act in the estate's interest. It is months of paperwork, not years of law school. You can say no. You can get help. And you can be paid, if you choose.
The job, honestly
File the will and open probate. Get your letters, the court paper that makes banks talk to you.
Secure and inventory everything. Notify creditors, agencies, institutions.
Pay valid debts and taxes from the estate. Distribute what remains. Account for all of it, and close.
Typical timeline: months to more than a year, mostly waiting on institutions.
Three rules keep you safe
Never mix money; open an estate account and run every dollar through it.
Paper everything; receipts, letters, dates.
Distribute last; paying heirs before creditors is the classic mistake, and it comes out of your pocket.
You do not have to do this alone, or at all
Declining is allowed; the court appoints an alternate.
Attorneys and accountants are paid by the estate, not by you.
Executor compensation is lawful, with state formulas. Waiving it is sometimes wise for family peace, but that is your call, not their entitlement.
Watch-outs
- Do not pay estate debts from personal funds.
- Do not let anyone take just the watch before inventory.
- Do not miss tax deadlines.
- And one more truth: executors grieve too, usually last. Our guide on the handler's grief is for you.
Related
- The executor's master checklist
- Opening an estate account
- Probate 101
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