The responsibilities of being an executor – Make sure you’re up to the task

Description

Abstract: Before a person agrees to be an executor of an estate, he or she should understand what the role entails. While serving as an executor can be an honor, the role carries significant responsibilities. This article highlights the multiple tasks required by an executor (called a “personal representative” in some states), which includes filing tax returns, taking inventory of the deceased’s assets and closing the estate. A sidebar explains how an executor is paid.