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Difference between revisions of "Introduction to Being an Executor"
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Introduction to Being an Executor (view source)
Revision as of 22:34, 21 July 2015
, 22:34, 21 July 2015→Being an executor
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Being an executor takes time, energy and careful attention to detail. An executor can get help from friends and family members and also from a lawyer or accountant if necessary. However, the executor is the person who is legally responsible. An executor will make the decisions, watch over everything, and keep accurate records. | Being an executor takes time, energy and careful attention to detail. An executor can get help from friends and family members and also from a lawyer or accountant if necessary. However, the executor is the person who is legally responsible. An executor will make the decisions, watch over everything, and keep accurate records. | ||
: '''A Senior’s Experience:''' I found out after my brother died that he had named me executor. He didn’t ask me first. Although I loved my brother, I didn’t want the job. I was 78 years old. Also, I live in Alberta and he lived in BC. It was going to be too difficult. So I signed a Renunciation of Probate form, and the alternate executor took over. | : '''A Senior’s Experience:''' ''I found out after my brother died that he had named me executor. He didn’t ask me first. Although I loved my brother, I didn’t want the job. I was 78 years old. Also, I live in Alberta and he lived in BC. It was going to be too difficult. So I signed a Renunciation of Probate form, and the alternate executor took over.'' | ||
===How difficult is it to be an executor?=== | ===How difficult is it to be an executor?=== | ||
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* the will is challenged by someone who feels left out of the will. | * the will is challenged by someone who feels left out of the will. | ||
: '''A Daughter’s Experience:''' I was executor of my mother’s estate. It was quite simple because she had distributed many of her possessions before she came to live with us. I didn’t have any trouble except that she left specific amounts of money to the beneficiaries and there wasn’t enough money to go around. When I made my will, I put in percentages instead of actual amounts. I didn’t take a fee for being executor because it was for family and it didn’t take long to do the job. | : '''A Daughter’s Experience:''' ''I was executor of my mother’s estate. It was quite simple because she had distributed many of her possessions before she came to live with us. I didn’t have any trouble except that she left specific amounts of money to the beneficiaries and there wasn’t enough money to go around. When I made my will, I put in percentages instead of actual amounts. I didn’t take a fee for being executor because it was for family and it didn’t take long to do the job.'' | ||
===Do I have to act as executor?=== | ===Do I have to act as executor?=== | ||
