In the newest episode of Advice You Can Trust, James and Ryan tackle a new topic surrounding the roles and responsibilities of an executor.
When faced with this role, oftentimes, individuals are unaware of the full extent of responsibilities that accompany this role. Additionally, an executor faces an apparent level of personal risk when assuming this position. Listen as James explains the duties of the role, as well as the assortment of variables to consider.
So sit back, relax, and enjoy a thought-provoking conversation that will leave you considering whether or not you're suited for the role of an executor.
0:07 - Overview on today's topic
2:00 - What is an executor and what does this role entail?
3:54 - Why someone shouldn't automatically accept this responsibility without careful consideration
6:00 - What is involved with filing a will and setting up the estate bank account
8:00 - Issues that can be challenging for an executor, particularly finding all the assets
9:49 - Advice for an executors hunting for all the estate's assets
11:56 - The roles and responsibilities surrounding paying debts and liabilities tied to the estate
14:36 - People tend to be surprised when learning all that an executor is responsible for
16:15 - Executors should be concerned with a level of risk associated with the position
21:20 - Closing remarks and final tips for executors