If someone has approached you about being an executor for an estate, you may want some time to consider your responsibilities. Overseeing the closure of someone’s estate can take time and requires careful adherence to specified legal documents.
Knowing some of the characteristics of successful executors can help you determine if you have what it takes to do the job.
Organization and flexibility
With so many moving parts to closing an estate, your ability to stay organized will make a considerable difference in the efficiency of the process. According to CNBC, it can take up to one and a half years to settle an estate. Following the testator’s instructions can prevent the disappointment of having to go back to address discrepancies.
Even while you administer to your executor duties, you may still need to maintain your career, tend to family responsibilities and manage your own personal affairs. Having the flexibility to do this may not come easy to everyone. Before agreeing to an executor role, consider your availability to meet expectations without compromising your sanity.
Compassion and integrity
Regardless of the size of a person’s estate, you will most likely deal with their money. This requires integrity and trustworthiness. Using ethical practices to accomplish each task will show respect to surviving family members.
Because you will work closely with the testator’s family members, compassion can help you show empathy for their feelings. Extending patience and understanding can help you build credibility which will give family members peace of mind that you have their best interest at heart. Possessing desirable qualities may increase your success and confidence as you fulfill your obligations as an executor.