In any estate plan, an executor needs to be chosen. This is arguably one of the most important decisions that an estate planner will make. The executor of the estate should be a person who is distant enough from the person’s affairs to not be biased; however, they should also be a highly trusted person who can be counted on to manage all affairs after the death of the owner of the estate.
If you are planning your estate, it is important that you fully understand the role of the estate executor so that you can make a well-informed decision when it comes to choosing your estate executor in the state of Massachusetts.
What are the responsibilities of the executor of an estate?
The executor of an estate is primarily responsible for distributing all assets within an estate after the death of the estate owner. This should be done in accordance with the will that has been made.
In addition to the distribution of assets, the estate executor also has the duty to maintain the state of any assets until they have successfully been sold. For example, the estate executor has the responsibility to maintain the home so that it does not fall into disrepair and lose value as a result. The estate executor should also pay any bills and taxes that are associated with the estate.
If you are in the process of planning your estate in the state of Massachusetts, you should invest a considerable amount of time in choosing an appropriate estate executor who you have good faith in.