Basic Questions About Estate Planning: Should you Serve as Executor?

If someone asks you to serve as executor of his or her estate, what should you say? Before you decide on an answer, you will need to know what will be asked of you when you serve as executor. Executors, also known as personal representatives or estate administrators, have some specific duties when it comes to managing the estate settlement process. Beyond those specific duties, however, executors should have certain character traits that will allow them to carry out their responsibilities in an appropriate manner. Before you accept or decline a nomination to serve as executor, here are several questions you might want to ask yourself. Do you have the time to serve as executor? The estate settlement process can be complicated and time-consuming. Because of this, if you are asked to serve as a personal representative you need to ask yourself if you have the time necessary to perform the required duties. Some of these duties are relatively minor and will only take brief periods of time,


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