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What duties do executorship brings?

When you are nominating someone for executorship, you should help them know about their responsibilities.

When it is the time to be an executor, it brings the best and worst of the world. It is an extreme honor as well as matter of faith to be someone’s executor. But it also means that you have to take the entire responsibility of winding up what was left by the person. It can be sometimes a big task and sometimes it can be very menial. In the end it depends on the situation. Hence, executorship is not an ordinary task and comes with its own challenges.

Duties that executorship can entitle you with:

It is upon the executor to protect the deceased person's property till the time all the debts and taxes are cleared and paid. After coming to a full settlement, he will look at what is left and then transfer it to the nominated people as per the will.

As per the rule there is no need for an executor. However, if you wish to have a personal representative then you can request a person for executorship.  It would be helpful if the person comes from a legal or financial background. Only then your property or the assets are in safe hands.

Only an honest, impartial and diligent can be a good executor as it is the fiduciary duty that he has to undertake. It is the executor who will take the decisions, on behalf of you when you are passed away and would not be around to guide with your will.

You will have to list down all your assets and property that has to be managed when you are gone so that the executor can easily manage and distribute it to the rightful inheritors.

Another thing that you need to determine is whether or not you will want probate court proceedings. If the assets are under joint ownership then you will have to pass them to the surviving owner. This will not follow any probate.

There are limits on the amount. If the assets fall under a particular amount category there is procedure that the executor should know. Either you can understand the process and help the executor understand or if you have appointed the one from the legal or a sound financial background then you will not have to worry about anything.

Executorship also involves dealing with the inheritors. Sometimes people feel betrayed and curse and abuse. The executor has to calmly reveal the will and undertake the process of distribution by reading the will in the presence of every inheritor.

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