Have you thought about who will oversee your affairs after you pass away? If you haven’t, now is a good time to think about that. Once you determine who the best choice is, you can name that person as the executor over your will. As you think about who should fill that role, it is important that you know as much as possible about the role of an executor.
Do I have to name an executor?
You don’t have to name an executor. If you don’t name one, the court will appoint one for you. In most cases, immediate family members are executors. This might include your children, parents or spouse. If you don’t want a close family member over your will, simply appoint someone else. You must know, however, that the person you choose can refuse to serve.
What does an executor do?
As we have previously discussed, an executor cares for everything in your will and handles a variety of duties to do so. The executor pays the taxes and bills for your estate. The upkeep of a home, property and all other assets must be done by the executor. The executor must attend court proceedings for the estate and work to distribute assets to the beneficiaries of a will.
Does an executor get paid?
The simple answer to that question is that it just depends. An executor can receive payment in accordance with Florida law. Many executors opt to handle the duties out of respect for the deceased person and don’t accept any payments. Some executors might want payment so they can seek out professional assistance with the estate. While this usually isn’t necessary, complex estates might necessitate help from someone knowledgeable about the probate process.
Source: FindLaw, “Will Executor Duties FAQ” Sep. 29, 2014