Being named the executor of a deceased estate can feel like an honour; knowing someone trusted you with the responsibility of closing out their life, slightly smug that you are considered smart enough or organised enough to do the job.
For the new generation of deceased estate executors, the kind of person who has a few professional skills up their sleeve and a phone in their pocket, at first glance, the job can seem pretty straightforward. Pay some bills, distribute some assets, sign some documents. Easy peasy. All in a day's work.
In reality being an executor is often tedious, confusing, and involves navigating a labyrinth of legal, financial, and emotional challenges that can make even the most organized and patient person crumble. Above all it's time consuming. So much more time consuming than most people think.
Once upon a time, executors tended to be children or siblings of the deceased whose own families had grown and flown - they had time to commit to the job of wading through months of posthumous administration.
The vast majority of executors I work with now are slap bang in the middle of juggling work, mortgages, kids, busy lives. People who know more about these things than I do call them the Sandwich Generation - sandwiched between kids and aging parents. These are the executors whoa re making decisions about a parent's estate whilst managing decisions about which school to send their kids to. Their juggling creditors and beneficiaries whilst juggling grocery shopping and soccer practice. Being an executor on top of paid work and parental work can feel like a burden not an honour.
This is like a second full-time job
The new generation of executors are often already juggling a full-time job, unaware that taking on the role of being an executor of a deceased estate is like having a second full-time job.
But all is not lost. If you've been named an executor there are ways you can honour your dead person but still save some space for yourself with a bit of advance preparation:
Read the will
You would never agree to start a new job without seeing the job description - don't agree to be an executor without seeing the will you are going to need to administer.
If your future dead person tells you it's a secret, chances are high there's something tricky or sneaky hiding in that will that might come back to bite you later.
If you don't know what you're up for you can decline and ask them to find someone else.
Ask questions
Get your future dead person to tell you all the answers you'll be left having to provide after they die - you can find a whole lot of the most commonly asked questions you'll get asked HERE.
This includes asking questions about where to find important information, important documents, and important people.
Make sure their tax is up to date
There are only two things in life that are a given: death and taxes. One of your first jobs as an executor will be filing any outstanding tax returns for the deceased person. You can get ahead of the game by making sure they're as up to date as they possibly can be BEFORE they die - even if it means turning family dinners into opportunities to sort through old receipts and file tax returns.
Know where to get help
Many executors don't know they're entitled to find their own lawyer to help administer a deceased estate - you don't have to use the dead person's lawyer. Having a lawyer you like, respect, and want to work with in mind BEFORE you have to step up and do your executor job will help make the early days of estate management much easier.
Understanding the new generation of deceased estate executors
As a card-carrying member of the Sandwich Generation, I believe being asked to be the executor of an estate is an honour - but it's not an honour that has to come at the cost of putting your own life on hold.
You have a job, a family, and your own responsibilities. Handling an estate shouldn't feel like a thankless, exhausting second full-time job.
We've designed our estate management around people with busy lives and can help you with;
Handling the mountains of paperwork
You don't want to spend your day at work and then come home to decipher legal forms. We'll make sure all your deadlines are met and your paperwork is done correctly (no more googling 'what happens if I mess up probate?' at 2am).
Taking care of creditors
Nobody wants to take calls from creditors or organisations looking for your dead person whilst you're dealing with dinner or coaching your kids netball match. Redirect everyone to us and we'll sort them out on your behalf making sure your debts and tax obligations are handled.
Avoiding being the meat in the middle of the sandwich
Beneficiaries can be impatient. Family members can be emotional. It can be hard to be impartial and not feel torn into many pieces when being an executor. Working with a good lawyer who acts as a buffer, handles communication, explains legal realities and supports you means you won't become the legal bad guy or fall out with your family.
Getting things sorted faster
We're not miracle workers but working with a lawyer ensures unnecessary delays are avoided and keeps everything moving so the estate can be finalised faster.
Protecting you legally
As an executor, you can be held personally liable if you make a mistake. Working with an estate lawyer ensures everything is handled correctly, reducing your risk and protecting you from unexpected outcomes.
To find out more about your role as an executor, make a time to have an obligation-free phone call with Fiona or check out our deceased estate resources HERE.