Published September 7, 2018 by Marissa Bagasra
When someone sees they’re named as executor in a will, they believe it is something they must do. However, that may not be what’s best for the person or what’s best for the estate. Being an executor is not a “have to do,” it should be a “want to do.” #ProbateNavigated asks SmolenPlevy’s Marissa Bagasra how to decide whether you should assume the role of executor.
There are many misconceptions about taking on the role of an executor. Before you make a decision, Bagasra believes you should ask yourself the following questions:
- Is this something that you want to do?
- How much time can you give to this? Being a fiduciary requires a significant time commitment.
- Can you act impartially?
- Is your appointment as an executor in the best interests of the estate? Are you the best one in the family to take on this role?
In addition to speaking on undertaking the role of executor, Bagasra also discusses the implications of being an executor, how to assess the complexity of the estate, and common mistakes to avoid.
“You’re dealing with grief, family and money,” says Bagasra. “When these things come together it can be very difficult. It is better to proceed with caution than go full steam ahead in haste.”
Listen to Marissa Bagasra on the popular #ProbateNavigated podcast:
