When deciding whether to become an executor, here are questions to answer to help you make the right decision, our experienced Trinidad & Pueblo Estate attorneys explain.

When deciding whether to become an executor, here are questions to answer to help you make the right decision, our experienced Trinidad & Pueblo Estate attorneys explain.

When a loved one passes away and names you as his chosen executor or legal representative, it can be an honor to know that your loved one trusted you to wrap up his final business.

However, the role of an executor can be complicated, and it does come with some serious responsibilities. In fact, if you aren’t prepared to be an executor and/or you don’t end up being able to fulfill your duties later, you could end up being held personally liable – possibly even being sued (for breach of fiduciary duty).

So, below are some questions to ask yourself if you are trying to figure out whether stepping into the role of executor of an estate would be a good move for you.

Should You Be an Executor? Here’s What to Consider First…

1 – Do I have the time to be an executor?

One of the first considerations you need to make when deciding whether to be an executor is whether you actually are available to serve in this position at the moment. Are you currently bogged down with family and/or work matters? Or do you even live in the same state as the decedent?

If your own personal issues may be consuming at the moment and/or regularly traveling to another state to administer a decedent’s estate will be problematic, you may want to think again about saying “yes” to the executorship.

2 – Will I be available over the course of the next few to several months to carry out the executor duties?

Although you may be available at the moment to be an executor, you should be aware that it can take months (or sometimes even longer) to fully administer an estate, resolve probate and close the estate.

So, make sure you think about your situation and future plans. If you know that you have something big planned for the near future (like, for instance, going back to school, having a baby, etc.), you may, again, want to think twice about agreeing to serve as an executor.

3 – Will I be able to stay organized and manage this type of estate?

Availability is just one of aspect of what is necessary to fulfilling the executorship duties. Another will be having the ability to stay organized and manage the estate in question.

So, if handling deadlines, multitasking and/or staying organized is a challenge for you, again, it may not be the best idea to serve as an executor of an estate.

4 – Is there anyone else who would be willing or able to be the executor?

Another essential consideration is whether there is another other qualified person who is willing to serve as an executor if you are not able to. Has the will named an alternate executor? Or is there another loved one who would like to (and can) step into this role?

If so – and if your answers to the above questions indicate that you may not be the best choice of an executor at this point, you may want to relinquish the opportunity to another party.

If not, however, you should know that:

  • As an executor, you can hire attorneys and other professionals to help you carry out your duties.
  • Retaining the experienced Trinidad & Pueblo estate attorneys at Gradisar, Trechter, Ripperger & Roth can be your best move to ensuring that you successfully fulfill your executor duties.

Trinidad & Pueblo Estate Attorneys at Gradisar, Trechter, Ripperger & Roth

Have you just stepped into the role of executor? Or do you need assistance with any estate planning or administration matter? If so, the Trinidad & Pueblo estate attorneys at Gradisar, Trechter, Ripperger & Roth are here for you, ready to provide you with the highest quality legal services.

To learn more about our superior legal services and how we can assist you, contact us by calling (719) 556- 8844 or by emailing us using the contact form on this page.

From our offices based in Pueblo, we represent clients in Trinidad, La Jara, Lamar, Walsenburg, Alamosa and throughout the state of Colorado.

Categories: Wills