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Executor may need to prepare for probate administration

Few people in Oklahoma take the time to plan their estates. To do so may be unsettling to some, but it is a generous gift to loved ones who are left behind. Part of estate planning is selecting someone to be executor of the estate. This job includes seeing the estate through probate administration, which is not always an easy task. The duties and challenges of an estate executor may not be fully appreciated until one has undertaken the job.

One common flaw many make with their estate plans is failing to openly discuss the plans with heirs and agents. Knowing ahead of time than one has been assigned the duties of estate executor may allow the designee to prepare for the responsibilities ahead. For example, the executor should know where to find important documents, whom to notify after the testator's death and any particulars of the will or trust that may need to be addressed.

Additionally, an estate executor must take into consideration his or her personal circumstances. Job and family obligations may require a designee to request a co-executor or to decline the honor altogether. If a person feels he or she is not organized or detail oriented enough to successfully see the estate through probate, that person may wish to refuse the appointment.

Accepting the duties of estate executor or trustee carries some risks. The job is complex, and those who agree to it are often under the scrutiny of potential beneficiaries. To avoid the possibility of committing crucial errors that may result in personal liability, many in Oklahoma seek the advice and assistance of a probate administration attorney. Such an attorney will have in-depth knowledge of Oklahoma probate courts and will represent an estate executor through the entire process.

Source: investopedia.com, "4 Things To Consider Before Becoming An Estate Executor", Andrew Beattie, Accessed on April 21, 2017

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