If you’re the executor of an estate, you’re undertaking a fairly big responsibility. This responsibility can sometimes be overwhelming. You certainly don’t want to mess anything up, but obviously, an executorship isn’t something many people have a lot of experience dealing with. It’s easy to slip up and make a mistake. Today in the Davidson Law Group blog, members of our wills and trusts attorney team break down some of the most common mistakes executors make.
Not Seeking Help
First and foremost, the most common mistake executors make is not seeking help when it’s needed. Hiring a wills and trusts attorney is one of the best things you can do for yourself, and your loved ones, if you’ve been appointed an executor.
As we’ve mentioned, it’s unlikely you have any experience dealing with estates. A wills and trusts attorney has gone to school for years and will have years of real-life experience dealing with estates. They’ll be able to help you navigate these tricky waters and properly handle every aspect of the estate.
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Underestimating the Process
Settling an estate, distributing assets, and just about everything else associated with being an executor takes a lot of time and effort. These things can take months, even years, to get fully settled. Many executors go into the process expecting it to be quick and fairly easy.
Unfortunately, this isn’t the case. Some estates are simple, some are extremely complicated. Each will vary and can take different amounts of time and planning. Again, this is when having a wills and trusts attorney comes in handy. They can give you a better idea of the timeline and help you with a lot of the work.
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Misunderstanding Your Duties
Many executors tend to misunderstand exactly what being an executor entails. When you’re appointed an executor you’re also considered a “fiduciary” and are held to high standards. It’s your job to manage the money of the estate and everything you do has to be considered fair and transparent. Making these decisions is difficult and complicated, especially without a wills and trusts attorney on your side.
Ease Your Burden with a Wills and Trusts Attorney
A wills and trusts attorney is your best option when you become an executor of an estate. They’ll make your life much easier and ease the burden of managing an estate. To speak with a wills and trusts attorney, contact Davidson Law Group in Fort Worth, Allen, or Tyler today.