If you've been appointed as the executor of a will, you may be unsure of your duties. That's where your attorney can help. As an executor, you have to follow through on the duties you're assigned including:
- Paying taxes on the estate
- Distributing assets in accordance with the will
- Paying the estate's bills
- Going to court when necessary
- Maintaining the estate until settlement
If you are appointed as an executor, do you have to take the role?
You will be named the executor in a loved one's will and need to handle it accordingly once the job is assigned to you. However, if you feel that you cannot handle this job, you are able to decline the responsibility. If you take on the role and feel that it is too difficult or that you don't want to deal with the stress of the job, you can also resign at any point. Don't ever feel that you need to stay in this position if the situation is too overwhelming.
Most people assign more than one executor in their will in case this occurs. So, if you decide to pass on the assignment of being an executor, your loved one's next choice may accept the role as your replacement.
Do executors get paid?
One thing to remember is that executors do have a right to be paid in accordance with state law. However, most do not accept payment, since it's their loved ones who appoint them to handle their final affairs.
If you're appointed as an executor, you can reach out to your attorney for guidance. This is a complex role, but if you are willing, it is an honor to take care of the estate for someone you love.