Becoming an Executor of an Estate: What You’re In For

From the U.S. News & World Report website

An executor is someone named in a will, or appointed by the court, who is given the legal responsibility to take care of a deceased person’s remaining financial obligations. This means taking care of everything from disposing of property to paying bills and taxes. Most executors are immediate family members, with spouses, children and parents being the most common executors

If you’ve been named executor of an estate, you carry the burden of a variety of duties and legal responsibilities, including filing and paying remaining local and federal taxes, assessing the worth of assets, distributing property and sending records to beneficiaries. While you may feel privileged to be trusted to settle the affairs and fulfill the wishes of the deceased, to steer clear of common headaches and minimize hurdles, it’s critical to stay prepared and organized.