We've all heard the term -- the executor. Basically it's someone who handles the terms of your will. But the duties of the executor are far from basic. The executor's job can be complicated and it's so complicated the law allows for an executor to bow out and can be replaced. There are lots of questions about an executor and elder law attorney Martha Patterson has some information about the executor and how the executor fits into your planning in your will.
An executor is simply the person who after you die takes over your affairs. Your executor will get a court fee for their work. Sometimes to avoid conflicts, you will choose an executor who will not be an heir. To change your executor you have to update your will. Simply crossing out one name and entering another will cause problems with the court and these problems can be expensive.
Your executor may have a big job ahead after you die taking an inventory of your assets, getting an appraisal, paying bills and so forth. Choose your executor carefully and be sure you choose someone who recognizes the responsibility ahead of them.
Elder law attorney Martha Patterson offers a free consultation and $500 off any paid services when you contact her at her website www.ElderLawMom.com and this is something you shouldn't put off.