When someone makes you the executor over his or her Florida estate, you may find that you have a lot on your plate. The executor job is often a complicated and thankless one, and if it is your first time serving in the role, you may find yourself learning the process as you go.
According to Forbes, many executors, and particularly, first-time executors, make similar errors when managing the affairs of the deceased. Because so many people in the executor role make similar mistakes, recognizing what they are may help you avoid making them yourself. As an executor, be sure to avoid these three common errors.
1. Do not waste time
When you agree to the executor role, you agree to handle the affairs of the deceased within a timely manner. This includes making beneficiary designations within a reasonable timeframe. If you fail to do so, those beneficiaries could potentially seek to have you removed from the executor position.
2. Separate the job from your personal feelings
Your loved one who passed may have had a good reason for naming you executor, but do not hold this over the heads of your siblings or other beneficiaries. You agreed to take on the professional role of the executor, so make sure your personal thoughts or feelings do not cloud your judgment.
3. Remember that you are liable
It may surprise you how many executors neglect to take their duties seriously. However, if you make large errors while holding the executor role, your personal assets could be at risk. Stay professional, see your executor role as a job and do everything by the book to make sure your personal assets stay safe.