A good executor makes the probate process go smoothly, efficiently, and helps it finish as quickly as possible. Sometimes, however, executors feel as if family members, creditors, or others interested in the estate pressure them to wrap things up quickly or before the appropriate steps are taken. Your job as an executor requires you to follow probate procedures regardless of the pressure others are putting you under. To do this, there are several key mistakes you will want to avoid.
Tip 1. Don’t use estate property for your own needs.
As the executor your duty is to manage the estate, not to use the position to help yourself. Even if the estate you manage has a lot of property, it is never alright to use that property for your own purposes even if you only do so temporarily. Always keep detailed records of any estate expenses you incur and keep careful track of how you manage and use estate property.
Tip 2. Always follow court instructions.
Though the estate settlement process can often finish with a minimum of court involvement, you must always ensure you follow the court’s instructions. If there is ever a situation in which you disagree with the court or believe the court is acting inappropriately, it is not all right to simply ignore an order. You should consult your probate attorney and discuss what options you have if you disagree with the court.
Latest posts by Timothy P. Murphy (see all)
- Income Tax Basis - October 17, 2019
- How Do I Disinherit Someone? - October 15, 2019
- Use Trust Protectors for Added Protection and Flexibility - October 13, 2019