Saturday, June 15, 2013

Things to Know About Being an Estate Executor or Administrator

Closing out the estate of a relative or friend who has died is an important, and time-consuming, responsibility

Winding up the lifelong financial affairs of a deceased loved one often requires generous amounts of patience, free time and organizational smarts. The skills of a sleuth may be needed to uncover assets tucked away or forgotten. And even then, things are sometimes missed.

It's natural to feel honored if a friend or relative asks you to serve as executor, or personal representative, as the position is also called. If the person is near death, the urge to say yes is all the more pressing. But given the complexities of the role, it's crucial that you take it on only if you feel fully capable. Here are a few questions to ask yourself ... Read the entire article.

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