ROLE OF AN EXECUTOR

A question I am commonly asked is what role does the Executor of an estate play?  I can’t stress the importance of choosing your executor.  If someone close to you asked you to be the executor, you probably feel honored, but at the same time you may be quite unsure of your responsibilities. What do you …

When an Executor May Need to be Replaced

An executor is the person responsible for performing a number of tasks necessary to transfer assets or wind down the decedent’s affairs. Generally, the executor’s responsibilities involve taking charge of the deceased person’s assets, notifying beneficiaries and creditors, paying the estate’s debts and distributing the property to the beneficiaries. The executor may also be a …

Art and Sentimental Items in Estate Planning

Art and Sentimental Items in Estate Planning

The New York Times has an interesting article on the value of an art collection in estate planning.   That’s not something most people think about. After all, most people aren’t serious art collectors.  Even among those who are, these collections usually exist more for personal satisfaction than financial gain.   “Art investors are nearly …