Six Common Misconceptions About Estate Administration

When a loved one passes, there are many things that need to be addressed: contacting friends and family, making memorial service arrangements, writing an obituary, paying bills and much more. If someone has named you as executor or trustee, there are also legal responsibilities to address. Being chosen for these roles may initially seem like an honor, but in no time, you will discover that the role can be demanding and stressful. Diligent work on your part, coupled with guidance and counsel from your attorney, can help reduce the opportunity costs drastically and avoid lawsuits from angry beneficiaries. This worksheet will dispel some common myths about estate administration.