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The basic duties of a will executor

As you create your estate plan, you will be faced with a variety of questions. One that is often overlooked is as follows: Who will be the executor of your will? It is not uncommon to get so caught up in who will receive your assets that you overlook the importance of this question.

In short, an executor is responsible for taking care of your financial obligations after you pass on. This can mean everything from distributing property to paying taxes, among other details.

While not always the case, most people choose an immediate family member, such as a spouse or child, to be their executor.

Some of the functions often performed by an executor include:

-- Paying all final bills for the estate.

-- Making appearances in court in relation to the estate.

-- Distributing assets as outlined by the will.

-- Property maintenance until the estate is settled.

When creating an estate plan, it is important to carefully choose a will executor. Remember, a person does not have to serve in this capacity. He or she has the right to decline the responsibility if they are not interested in partaking for any reason.

There is nothing simple about creating an estate plan, as you have to think about what the future will bring after you are gone. A will can help ensure that your final wishes are carried out. A will executor is the person in charge of making sure everything moves forward as planned. Choose a person you can trust to follow your wishes and make the right decisions along the way.

Source: FindLaw, "Will Executor Duties FAQ," accessed April. 08, 2015

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