Being appointed as the will executor for a beloved friend or relative is a significant responsibility. While the prospect may seem daunting at first, as executing a will can be complicated and time-consuming, being trusted to follow instructions and carry out the testator’s wishes to the best of your ability is an honour worth cherishing. If you’re worried about being entrusted with this position, consider the following tips to get you started.
Keep All Documentation Safe And Organised
When dealing with any form of legal matter, such as executing a will, staying organised is crucial. The testator likely appointed you as their executor due to their faith in your organisational skills; however, if you struggle with keeping documentation in order, this is something worth addressing. Adopting a systematic approach to your responsibilities will help you to stay on top of legal papers, financial statements, and correspondence with beneficiaries and legal representatives. Try using labelled folders or digital folders on your computer, as many forms of documentation are now digitised.
Pay Off Any Outstanding Debts
Before anything is handed to the testator’s beneficiaries, all outstanding debts must be paid – this will be one of your main priorities as an executor. This process involves identifying and gathering all the debts the deceased owes, such as mortgages, loans, credit card balances, and any outstanding bills. If the testator’s assets are insufficient to meet their liabilities, then beneficiaries won’t receive any share of the estate. However, before any debts are paid, you are permitted to cover funeral expenses and the costs involved in estate administration.
Be Patient
Executing a will can be a long and laborious process, such is the nature of any legal procedure. Consequently, your position will require a considerable amount of patience. Try not to expect swift resolutions, as the probate process can be complex, involving numerous legal procedures and a lot of paperwork. Handling these matters requires careful attention and thoroughness, inevitably extending the timeline. Recognising the intricate nature of probate will help to alleviate unnecessary pressure, so you can instead focus on executing the estate to the best of your ability.
Be Respectful
As a will executor, handling the testator’s wishes with utmost respect and empathy is essential. A person’s will reflects their values, beliefs, and personal connections, so putting yourself in their shoes and seeing things from their perspective is crucial. Additionally, the testator may have expressed their specific preferences regarding their funeral arrangements and how they wish to be laid to rest. However, it is worth noting that funeral arrangements are typically made before the probate process begins, as they are time-sensitive.
Consider Probate Tracking
Applying for probate is a critical step in the estate administration process. It provides the legal authority and oversight needed for the executor to carry out their duties and fulfil the deceased person’s final wishes as outlined in the will. In short, applying for probate means you, as the executor, are formally submitting the testator’s will for legal recognition and approval. As this can be a lengthy and uncertain process, consider probate tracking, which keeps you up-to-date with progress and will detail each step, granting you peace of mind.
Remain Impartial
As an executor, your actions should be in the best interests of the testator and the beneficiaries, demanding the utmost commitment to fairness and impartiality. This means you cannot go against the terms of the will, breach your fiduciary duty, fail to act, embezzle or purposefully harm the estate. You must also set aside personal biases or preferences and administer the estate’s assets with absolute objectivity, ensuring that each beneficiary receives their rightful share as per the testator’s instructions.
Reach Out
If at any point you find yourself uncertain about the legal or financial aspects of the probate process, seeking help can make your job considerably more manageable. There is no shame in contacting a solicitor or a probate professional for guidance and support. Additionally, dealing with the estate of a deceased friend or family member can take its toll on your mental well-being. Keep in mind that you will be grieving; therefore, it is important to reach out to trusted individuals and professionals if you need to.
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