October 27, 2020
My dad has asked me to be executor of his estate when he dies. I’m happy to do it but it does seem like a lot of work. Is there a downside to doing this or anything I need to watch out for? Would be good to hear your thoughts.
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October 27, 2020
Hey Ryan,
In my experience, the level of work required can be the thing you need to watch. For example, if your dad’s estate is complex, maybe with a small business or some real estate, then there may be more administration involved than normal. Tax issues can also really complicate things.
Apart from that, there’s isn’t much to be concerned about. Executors do have to act diligently and carefully, but (assuming the funds in your father’s estate allows), you can always engage an attorney to help you.
We’ve got some great articles in the Executor’s & Probate on executors’ duties which would definitely be worth a read. There are specific articles on executor duties and responsibilities, as well as executor liabilities. I’m sure you’ll find them useful.
Best,
Martin
