When deciding who will serve as the executor of an estate, it is important to understand what sort of tasks the executor must carry out.
Though the duties will change depending on the estate plan itself, many of the responsibilities will remain the same across the board.
Basic skills needed
Forbes takes a look at the duties and responsibilities held by executors. Generally speaking, executors will act as central figure in an estate plan and most other people involved in the plan will answer to him or her. This means the executor must have:
- Leadership skills
- The ability to self-manage
- An understanding of how to use authority
Of course, with so much hinging on how they respond, they will also need to have strong organizational and time management skills. The latter is especially important because so much of the legal side of estate management centers around deadlines and time-sensitive documents.
Social interaction skills
On top of that, the executor will often interact directly with other grieving loved ones. This means they need interpersonal and communicative skills. Patience is a major bonus as well, considering the mental and emotional states of the people they will deal with.
They also have to act well under pressure and emotional distress, as they will handle these situations while also dealing with their own grief and loss.
On a whole, it is a stressful position that not everyone can handle. It is important to trust an executor, but equally important is whether or not they can actually serve the role well.