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Choose a professional for estate administration duties

Are you one of our Texas readers who is worried about what will happen to your estate when you pass on? While there are many ways to ensure that your assets end up in the right hands, some people struggle when it comes to choosing an executor.

In the event that a person is single with no family in one's life, he or she may be faced with the challenge of choosing a person to administer his or her estate.

Even if you have family, you may not want to burden one of them with this responsibility. This can be stressful since the person is still trying to get over your death.

Many people turn to a professional for estate administration duties. There are many reasons for this, including the fact that it gives family a chance to grieve without adding responsibility. On top of this, it is a good choice for those who don't have or are not close with their family.

Your executor is in charge of many things, from distributing assets to paying claims against your estate to taking inventory of all your property. With so many responsibilities, it is important to find a highly qualified and experienced professional.

An attorney, financial adviser, or accountant can be a good choice, as long as you trust the person to do the right thing upon your death.

Some people choose a family member or friend for estate administration duties, while others consider the benefits of selecting a professional. Those with questions or concerns often consult with an estate planning attorney, as this allows them to make a confident decision.

Source: Time, "How To Pick a Pro to Manage Your Money When You’re Gone" Kerri Anne Renzulli, Nov. 03, 2014

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