An Executor is a person or organization selected to carry out a will’s ultimate desires. An executor’s duties include:
- Register the will with the county clerk
- Pay off any debts/claims
- Distribution of personal property as directed in the will
- Maintenance of real estate until sold or transferred
- Maintenance of any real estate until sold or shared
They must perform several duties and guarantee that assets are correctly transferred to heirs under their client’s will. Keep in mind these traits of a successful executor, and for further knowledge, you can visit https://illinoisprobatesolutions.com/2022/01/what-your-responsibilities-as-an-executor-fiduciary-duty-explained/ .
· Good communication skills:
A good executor must have impressive communication skills to avoid misunderstandings and confrontations. Executors must contact several parties during their work, and throughout the process, they communicate with heirs and beneficiaries, service providers, creditors, and asset managers.
· Competency in their field:
Managing an estate’s finances is complex, and only a person with solid financials is eligible for this job. One should know market worth, profit/loss, etc. Managing one’s finances is a fantastic approach to evaluate one’s financial abilities.
Executors of wills and estates have a lot on their plates. They have a lot of work to do, including completing the probate procedure, gathering information on all assets and liabilities, selling tangible property, and more. It will be simpler for well-organized people to take care of all of this on their client’s behalf.
A good executor is also responsible and uses excellent judgment. During the estate settlement procedure, several choices must be made. An executor must know when to undertake tasks alone and employ an expert. He/she should also be punctual and follow up on duties.
A good executor must be trustworthy. When a person chooses someone to carry out their estate plan, they entrust them with their assets and the future of their heirs/beneficiaries. Sadly, abuse and money theft are always possible. Choosing a reliable individual is vital.