When planning your estate, there are a myriad of factors to consider. One of the most important may be who you choose to handle your estate once you have passed. The estate administrator, sometimes referred to as the executor of the estate, is responsible for ensuring all matters involving the estate are handled properly. It may be daunting at times for estate administrators to juggle all of the duties given to them, and so it is critical that you select someone who is up for the task. If, however, the administrator you choose does not want to take on the position, he or she may decline and the court will appoint one to take over the duties.
It is helpful if the estate administrator is organized, detail-oriented, punctual and has the time needed to devote to certain activities. Executors are responsible for gathering all of the property and assets included in the estate and then having them evaluated to find the estate's value. Any expenses still owed by the estate, such as income taxes, property taxes or other debts, are paid out of the estate's value. The administrator also protects the estate from theft and vandalism during probate. Once the probate process has taken place, the remaining property and assets are distributed to the beneficiaries named in your last will and testament. The right estate administrator can help to ensure your estate is taken care of after you have passed.
This information is intended to educate and should not be taken as legal advice.