Posts

Showing posts from January, 2016

Who Should Be Your Executor?

This is often a difficult question for someone preparing their will.  It may be helpful to understand what an executor does in order to make the best decision.  An executor, simply put, will be responsible for handling your affairs after you pass away.  Some typical duties include:
Probating your will.  This includes hiring an attorney to handle the court filings and attending a hearing at the courthouse.  Gathering up your assets.  This usually just means finding out what you owned and changing the name of the owner from you to your estate.Paying your debts.  If you have outstanding balances on credit cards or other debts, they will most likely be dealing with debt collection agencies.  If you owed any taxes at the time of your death, the executor must also deal with the taxing agency.Closing your estate by distributing your assets to the beneficiaries you have named in your will.  Now knowing this, what should you loo…