Choosing an Executor for Your Estate

							Choosing an Executor for Your Estate


Choosing an Executor to handle your estate after you pass is difficult. It is
tempting to name a spouse or family member – but do you know the
responsibilities and duties of an Executor?

An Executor is named within a will to administer an estate, and they will be tasked
with several responsibilities during the probate process, which is the legal process
that takes place in Probate Court that handles the administration of a deceased’s
estate. So what will the Executor’s duties be? There is a long list, but the basics
include:

    Compiling an inventory of assets and bills;

    Opening a bank account and getting creditors paid;

    Obtaining a federal tax identification number for the estate and preparing the
      estate’s tax return;

    Locating potential heirs, beneficiaries and creditors; and

    Distributing the assets of the estate in accordance with the terms of the will.

This process may take months, or even years to complete, and unfortunately, the
process also coincides with a time of grief for loved ones. But an Executor does
not have to do this alone, a Probate Attorney is able to assist them with the various
administrative and legal tasks that take place in probate. In fact, a probate attorney
may perform nearly all of the functions of the executor, although the Executor may
still have to sign off on court documents, and the fees can be paid from the estate.
Choosing an Executor who can handle these tasks is going to be difficult, and it is
best to discuss your choice with the chosen person. It is also important to also give
a second choice within a will, should the first choice be unwilling or unable to
serve in that capacity.

Executor duties are not taken lightly, and you need to choose wisely.

Experienced estate planning attorneys Portland OR of the Law Offices of Richard
B. Schneider LLC offers estate planning and business planning resources to
residents of Portland OR. To learn more about these free resources, please visit
http://www.rbsllc.com today.