The executor of your estate will face many responsibilities after your death. You will be able to help your executor handle his or her responsibilities more easily by taking the time to create and organize a plan. Take a look at some of the planning tips, below. If you have any additional questions in regards to helping your executor, consult with a qualified estate planning attorney.
- Compile a list of all of your assets and debts. A detailed list should include the assets that you have and where these assets can be located. Its a good idea to include important account information for all of your accounts including asset account and bills and other expenses. Dont forget to make note of digital asset accounts! You will want to include a list of usernames and passwords.
- Review and update your beneficiaries to make sure that all contact information is current. This will make it easier for your executor to pass these assets on to your loved ones. If you dont update your beneficiaries, your current wishes may not be followed.
- Store all of your important estate planning documents in a safe place. You will want to make sure that your documents are free from damage and that theyre easy to find. Its a good idea to give your executor a copy of your planning documents.
- Most importantly, make sure that your executor is able to handle all of the responsibilities associated with administrating your estate. Your executor may have questions about his or her duties. It can be a good idea for you and your executor to meet with your estate planning attorney so that questions can be answered and concerns can be addressed.
If you have any questions about creating a plan for your executor, consult with a qualified estate planning attorney.
Latest posts by Dennis D. Duffy (see all)
- Attorneys Want to Help - December 14, 2016
- Trusts and the Estate Tax - December 14, 2016
- What Is a Third Party Special Needs Trust? - December 14, 2016
