Naming a family member as executor of your estate could cause profound anxiety for everyone involved — including the person you’re asking.
An executor handles the legal and financial responsibilities of closing out someone’s life after they die. That includes settling debts, distributing assets to beneficiaries, handling tax obligations, and managing the many practical details that arise when a person passes away. The process can take up to a year or longer.
The good news is there are ways to make it easier. And there are options beyond asking a grieving family member to carry the full burden.
Do you need an estate attorney? Call Joe Norwood and Norwood.Law for a consultation at 918-582-6464.
Read about Norwood.Law’s past achievements here.
Burden
The duties of an executor are significant. They include:
- Locating and securing all financial and nonfinancial assets
- Notifying creditors and handling claims against the estate
- Distributing property to beneficiaries according to the will
- Filing final tax returns and paying any taxes owed
- Managing specialized or complex assets
Experts say choosing the wrong executor can create family tension, delay the settlement of the estate, and in some cases lead to costly disputes or even litigation.
Family
Choosing a family member as executor carries real risks. A sibling placed in charge may be perceived as favoring one branch of the family over another. If the estate is complex, the selected person may lack the time, organizational skills, or emotional calm needed to do the job well during a period of grief.
Poor communication from an executor — even when well-intentioned — can cause beneficiaries to feel shut out or suspicious. That suspicion can quickly escalate into conflict.
Financial advisors and estate attorneys say a professional executor, or co-executor who works alongside a family member, can dramatically reduce that friction.
Act now
Joe Norwood and Norwood.Law have the experience and knowledge you need.
Maybe you’re needing legal protection for a small business. Maybe you’re fighting for child custody. Maybe you’re fighting to protect your civil rights.
Norwood.Law practices family, estate, personal injury, civil rights, criminal, business law and more. Let Joe Norwood help you return to the life you had or gain the one you want.
Call for a consultation at 918-582-6464.
Professional
A professional executor — often a bank, a trust company, or an attorney — brings neutrality and expertise. They have no personal stake in the estate and are trained to handle complex assets, difficult beneficiaries, and drawn-out legal processes.
Combining a trusted family member with a professional co-executor is an option many estate attorneys recommend. The family member maintains a sense of oversight and connection to the process, while the professional handles the most technical tasks.
Qualities
Whether you choose family or a professional, experts say a good executor should be:
- Unbiased and fair
- Detail-oriented and organized
- A strong communicator
- Honest and trustworthy
- Timely in carrying out their duties
You can reduce the burden on whoever you choose by keeping your estate documents organized, your beneficiary designations updated, and your wishes clearly communicated in advance.
Fit to print
Joe Norwood’s successes in both civil and criminal law have been publicized by news organizations nationwide.
So stay here to get smart.
If you need legal help, don’t wait. Call Joe Norwood for a consultation at 918-582-6464.
Victory
Joe Norwood’s record says it all.
He’s won against foreign manufacturers. He’s won against the government over wrongful convictions. He’s won against banking interests and insurance companies.
Hurry and call now to protect the life you have or gain the one you want.
Joseph M. Norwood is a Tulsa attorney with the courtroom expertise you need. Contact his office at 918-582-6464.
By G.W. Schulz