Your executor plays an important role in the process of handling your estate after you have passed away. There are certain steps you can take to make this process easier for him or her, starting with notifying this individual that you have put this person on your official documents to serve as the executor. Here is how to help you executor with estate planning.
The executor will handle the basic management of your estate and the carrying out of any documents you have filed with your estate plan once you pass away. But this individual can be significantly hampered if he or she does not know where to find these materials or where to gain access to the various accounts and documents that you have. This is why you should also prepare a listing of all necessary passwords and secured places so that your executor can easily find this.
One way to ensure that the executor has access to this information is to give a copy to your estate planning attorney or to another individual who serves in a professional role for you.
Notifying your executor that this other individual has the materials necessary to move forward with the filing of your estate can be essential for giving this person the power to act quickly. Having an executor who understands what is going on and the various materials associated with your estate planning can empower him or her to take swift action and to manage your estate effectively. This will be an overwhelming time for your friends and family members as they enter the grieving process and it does not need to be difficult for your executor so long as you provide him or her with a notification about their service in this role and details about where they can obtain access to your various secured places and passwords.
Giving a person these materials in a manner that they can access it shortly after you have passed away reduces the concerns that may be raised by friends or family members who are not familiar with your estate planning documents. Since the executor will be the official representative associated with your estate, giving him or her the knowledge necessary to handle your estate as professionally and effectively as possible can go a long way towards making a difficult process a little bit easier for the executor and also your friends and family. Consult with an experienced Arizona estate planning attorney to learn more about what you should do to prepare an executor for this all-important role.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding How to Help Your Executor with Your Estate Plan, or any other estate planning matters, please feel free to contact Stephen L. West at 480.461.5341,or Curtis M. Chipman at 480.461.5329. You can also log on to udallshumway.com, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools and municipalities in Mesa and the Phoenix/East Valley.