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Understanding The Role of the Executor

If you’ve just been appointed as an executor of a will, you may be feeling overwhelmed. The role can be complex, and even seem like a second full-time job.

The first question you’ll probably ask yourself is what do I do now?

The best answer is to start learning your role, your responsibilities, and how to avoid putting yourself at risk.

As an Executor, You will need:

  • A variety of skills and knowledge about the estate administration process;
  • A large volume of time for completing tasks; and
  • Strong relationships (which may be strained by the combination of money and emotions).

Are you prepared for the risks?

Executors can be held personally liable for the decisions they make in the course of estate administration. Although you will be acting in good faith, errors – or disagreements and the perception of errors – can result in the executor and the estate being sued by beneficiaries.

 

To further help explore these topics, we have included several of the ERAssure Planning Tools for your review.

ExecutorCare – A Practical Guide to Inheritance Planning

ExecutorCare – Executor Guide

ExecutorCare – Will Preparation Guide

ExecutorCare – Marys Story – One Executor’s Experience

 

These tools are being offered by:

Estate Risk Protection Plan Inc. – ERAssure

30 Duke Street West, Suite 902

Kitchener, Ontario

N2H 3W5

 

If you have any questions about Executor and Estate Liability protection, please do not hesitate to call 1-855-636-3777 and speak with a dedicated specialist.

 

 

 

 

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