When Ohio residents create their estate plans, they often choose to appoint an executor to handle the proceedings associated with settling the estate. If a person is approached about being an executor, he or she may want to first understand what is involved with probate. Many people do not know what this process entails, and having this information could allow a person to knowledgeably accept or decline the role.
First, individuals may want to look into how complex the estate is. If a person has relatively few assets and beneficiaries, the probate process may be straightforward and not immensely complex to handle. However, if a person has a large estate with various and expensive assets as well as multiple beneficiaries, it may take more time and work to close the estate properly, which many people do not feel comfortable with.
Additionally, it is important to keep in mind that an executor’s duties can begin before the testator’s passing. For example, the executor may need to ensure that the testator keeps an updated inventory of assets and understands the testator’s specific wishes for certain matters, such as funeral arrangements. The executor will also need to know where documents and assets are kept so that he or she can access them when needed. This preparation is necessary because a person could pass at any time, and the executor needs to be ready to step in.
Of course, these examples are only a few details about steps to handle the probate process. As a result, Ohio residents who are approached about being an executor may want to gain more information before accepting or declining the role. However, it is important to keep in mind that executors can obtain help with settling an estate from experienced attorneys.
