tag:blogger.com,1999:blog-4402283548766807872.post6798913596261093935..comments2024-03-29T02:47:49.234-04:00Comments on The Blunt Bean Counter: Considerations in selecting an executor and accepting the executor appointment!The Blunt Bean Counterhttp://www.blogger.com/profile/11358868550072516313noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4402283548766807872.post-68136516637527738672021-10-26T23:23:43.770-04:002021-10-26T23:23:43.770-04:00Hi Julie:
To the extent the person who has named ...Hi Julie:<br /><br />To the extent the person who has named you executor is willing to arrange and simplify their affairs, I agree with you that pre-settlement work is pro-active and smart. I wrote a post along those lines a couple years ago, http://www.thebluntbeancounter.com/2018/10/should-you-simplify-your-investment.html The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-52352019438493632892021-10-24T22:50:48.039-04:002021-10-24T22:50:48.039-04:00If you are named executor It is productive to do p...If you are named executor It is productive to do pre-settlement work. In other words, you start your executor work before the person dies; you try to help the person who has named you as an executor- sell properties and consolidate his assets prior to death. This pre-settlement work may involve the same amount of work as being the executor but having these affairs simplified before death may allow the executor to deal with fewer issues as well as the grief from the loss of the family member later on. You are basically elongating the executor job before death for less stress after death. <br /><br />Such a pre-settlement work may be difficult in the case of elderly individuals but if the named executor does most of the leg work with permission from the elderly individuals, it is possible to decrease the number of issues that will be faced at a later date. <br /><br />I do feel that being an executor is a painful job and it may indeed take years to settle an estate especially when there are multiple asset types to deal with. In addition, it's lonely work and requires investigative skills, an endless determination to follow up on each and every asset such as missing stocks, as well as the ability to deal with lawyers, accountants, bank officers (estate divisions are notoriously slow as their clients are dead) and family members who may not understand the amount of work and time required for even going through probate and getting a letter of administration. Until you go through this fire, you don't really understand the scorching you will get. <br />Julie Alihttps://www.blogger.com/profile/12901800323309567826noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-57548114795039646772021-10-22T09:42:05.344-04:002021-10-22T09:42:05.344-04:00Thx Vince for sharing your experience. Unfortunate...Thx Vince for sharing your experience. Unfortunately in many cases, those appointing executors and those accepting, do so with little fore thought.The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-90804876943479555432021-10-19T19:24:02.211-04:002021-10-19T19:24:02.211-04:00I've been through the executor minefield twice...I've been through the executor minefield twice. Wish I had these suggestions before accepting the role. Vince P Maynenoreply@blogger.com