When making your estate plan, you will want to figure out who to give executorial duties to. You may already have a person in mind, even.
However, you should consider the duties they must complete before you make your final choice.
Handling post-death matters
Forbes discusses the duties of an executor. Executors act as the manager of an estate plan, essentially. It is their job to make sure everyone stays on the same page, to communicate with other important members like attorneys or financial advisors, and to get everything done in a timely way.
They will usually handle post-death matters such as funeral arrangements, renting out venues for any celebration of life that you may have, purchasing floral arrangements, or even buying headstones, caskets, urns or anything major if you have not yet worked out the arrangements yourself.
Managing finances and bills
They also handle bills and assorted financial matters. They pay off your final taxes, repay any debts that you may have left, and stop any ongoing bills that you no longer need, such as subscription services. They also continue to pay bills that are necessary, such as electricity or running water in a home or property.
Needless to say, the duties of an executor are vast and varied. It takes a certain kind of person to manage these affairs while also dealing with their own life and their grief and loss. Thus, even if you initially had a pick in mind, you may want to reevaluate while using this as a guideline.
