What should you never do as the executor of an estate?

| Sep 28, 2020 | Will Contests

After a loved one appoints you as the executor of the will, you have a lot of responsibilities. To ensure that the process rolls forward smoothly, you need to secure the assets, probate the will, notify beneficiaries and more.

With a long to-do list, Forbes also has a list of what you should not do as the executor of the estate.

Keep the beneficiaries out of the loop

The beneficiaries will want to speak with you. If you do not keep them in the loop and if you ignore their calls, they could look to remove you from your position. One of your jobs as the executor is to keep the beneficiaries up to date on the will.

Shrug off personal liability

Some executors do not realize that for every action or inaction, they may be personally liable. If something goes wrong or if you make a mistake, the courts could put your money and assets on the line.

Let the honor get to your head

When appointed as the executor of a will, you may feel proud of yourself. Do not let the power go to your head, however. This is one way that you can rehash old family drama. Try to be as humble as possible with your family members.

Do not act when necessary

Some executors do not do anything after becoming the executor. The attorneys may contact them, the beneficiaries may pester them to move the estate forward to close it, but the executor does nothing. If you do not know how to begin or if you are bad with time management, you may not want to be the executor.