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4 things to remember if executing an estate for the first time

On Behalf of | Jul 28, 2022 | Estate Planning

You might have said yes straight away when someone asked you to execute their estate. A lot of people do so out of loyalty to the person asking. It might not be till that person dies that you consider what it entails.

Here are some reminders when you feel overwhelmed:

1. You do not have to rush

While beneficiaries may be keen to get their inheritance and you may be eager to get it over with, rushing can create problems. You need to go through things methodically, as taking shortcuts will only lead to problems that result in everything taking longer.

2. You need to keep in touch with others

Do not feel that people asking questions are challenging your authority or that it means they don’t trust you. As executor, you have to keep specific people informed. You need to let creditors know the person has died, and you also need to keep beneficiaries up to date. The more transparent you are, the smoother things tend to run.

3. You are not the first person to do this

Many people execute estates for the first time every year. They always get there in the end. The process really will become clearer as time goes on.

4. You do not have to do it alone

You can and probably should get legal help to guide you through the probate process. It will reduce the chance you make errors that delay things or increase expenses and take a lot of the stress out of it. After all, this is not something you do every day, and you will be keen to get it right.