The Tasks of an Executor
In the last few months unfortunately, we have had a number of older clients pass away who we had served for many years. Our condolences are with their families over the loss of their loved ones.
When a person passes away, the tasks of the chosen executor for their will can be a very long and tedious process. Over the years I have spoken to many clients that have been put in the role of executor and it can be an overwhelming experience. As a Certified Wealth Strategist® I am presently creating a system for our clients to help them and their executors understand this extensive role, make it less arduous, and clarify the steps to take.
It is important to select the right person to be an executor. There is a tendency to choose the spouse or oldest child as the executor, which could be a mistake. There are several things you must consider when choosing an executor:
- Are they trustworthy?
- Are they qualified for the job?
- Do they have the time?
- Do they agree with all your wishes?
- Do they get along with the family members involved?
- Do they manage long term projects well?
If you have already chosen an executor, we have many resources for them. I want our clients to know I am happy to meet with them and their executor to talk about the many administrative tasks their executor will face, in hopes that when they have to step up to the role, this vast responsibility will be less stressful.
Contact our office at 830 609-6986 or email us at [email protected] to request a meeting and to learn more about the resources we offer.
* This information is not intended to be a substitute for specific legal advice.
The views expressed represent the opinion of Christian Financial Advisors®. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness. While Christian Financial Advisors® believes the information to be accurate and reliable, we do not claim or have responsibility for its completeness, accuracy, or reliability. Accordingly, such statements are inherently speculative as they are based on assumptions that may involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such statements. Past performance is not indicative of future results. For any discussion of equity securities: Investing in equity securities involves risks, including the potential loss of principal. While equities may offer the potential for greater long-term growth than most debt securities, they generally have higher volatility. For any discussion of taxes: Christian Financial Advisors® does not provide tax advice and encourages you to seek guidance from a tax professional.