If you’re anything like us, you’re ready to put January’s cold temperatures and what felt like a foot of snow firmly in the rearview mirror. February feels like a small but welcome reset. The days are getting a little longer, routines are settling back in, and it’s a good time to focus on things that tend to get pushed aside when life feels busy or chaotic. That includes estate planning conversations that often start with, “We’ve been meaning to take care of this.”
This month, we want to talk about one role that’s essential to a solid estate plan and often misunderstood: the executor.
Why It Matters and Who Should Serve
An executor is the person named in your last will and testament to carry out your wishes after you pass away. This includes handling estate administration, managing assets, paying bills and taxes, and ultimately distributing property according to your instructions.
It’s an important role and not always an easy one.
The right executor is typically someone who is organized, responsible with finances, and able to follow instructions even when emotions run high. Just as important, they need the time and willingness to serve.
Many people automatically name a spouse or adult child. In some cases, that makes sense. In others, it may not be the best fit. An executor can be anyone you trust and who is capable of handling the responsibility. Sometimes that person is a younger family member, a niece or nephew, a trusted friend, or even a professional or corporate fiduciary. Life changes, relationships change, and the person you named years ago may no longer be the best choice today.
Choosing someone younger is often practical, simply because they are more likely to be able to serve when the time comes.
Serving as an executor involves much more than signing a few papers. Responsibilities often include:
Obtaining certified copies of the death certificate
Locating and submitting the will to the court
Notifying Social Security, banks, credit card companies, and other institutions
Opening an estate bank account and obtaining an EIN
Paying ongoing bills and managing estate expenses
Creating an inventory of assets, including bank accounts, retirement accounts, real estate, personal property, and digital assets
Coordinating with financial advisors and accountants
Handling final income tax returns and any required estate tax filings
Distributing assets to beneficiaries
Executors have a legal duty to follow the terms of the will, even when family members disagree. That can require patience and, sometimes, thick skin.
Some executors choose to be compensated, while others decline payment to preserve the value of the estate. Compensation is typically outlined in the will or determined by state law and is paid from the estate itself. Fees vary widely depending on the size and complexity of the estate.
Absolutely.
Being named as an executor is a sign of trust, but it is also a serious commitment. You should always ask someone if they are willing to serve before naming them. Even then, it’s wise to name backup executors in case your first choice is unable or unwilling to serve when the time comes.
If an estate is particularly large or complex, naming a professional executor may reduce stress for family members and help avoid conflict.
Choosing an executor is just one piece of a well-thought-out estate plan. At Vick Law, we help clients think through these decisions carefully, taking into account family dynamics, practical realities, and long-term goals.
Whether you need to:
Create or update a will
Review executor choices
Plan to reduce stress on your loved ones
Navigate probate after a loss
We’re here to help you move forward with clarity and confidence.
Building wealth is only part of the picture. Protecting what you’ve built and the people you love matters just as much.
We invite you to visit our website to learn more about our firm, explore our blog, and subscribe to our complimentary newsletter. We regularly share practical estate planning and elder law insights designed to help families make informed decisions before they become urgent.
If you’ve been thinking about updating your plan or have questions about executors or estate planning, now is a great time to reach out.
Contact Vick Law today online or give us a call at 317-593-9853 to schedule a conversation. We’d be happy to help you take the next step.
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