Articles and audio on New York Professional Executor
Estate planning is an important part of your financial planning, but can be confusing. And estate planning can be even more intimidating if you’re terminally ill. In this article, I’ll answer the most common questions about estate planning if you’re terminally ill.
Being chosen to serve as the executor of someone’s estate might seem like a huge honor. But it’s really more of a huge responsibility. Many might even call it a burden.
What if you’re not sure you want to be an executor? Is it OK to decline? In this post, I’ll guide you through the most common questions and answers.
Too few people realize the sweat and hassle that goes into selling a deceased person’s home. Why burden yourself (or your heirs) with that responsibility when you can hire a professional executor—someone who has the skills and know-how to take care of every last detail for you?
When folks reach out about hiring me as their executor, price is top of mind for many (if not all). So let’s go over what it costs to hire a professional executor, including fees and other expenses. We’ll start with the basics.
We’ve talked before about not making a loved one your executor. I recently read an article titled, “2 Big Reasons Not to Make a Loved One the Executor of Your Estate.” Here, we’ll add our own perspective for why it’s not a great idea.
Could you imagine doing a ton of work and not getting paid? It’s frustrating, but it happens. One of the drawbacks of nonprofessional executors is they are more likely to lose their executor fee, despite doing months, even years, of work for the estate.
We often get hired when someone has died, but no one wants to be the executor. Sometimes there was a will with nominated executors who don’t want to serve. Other times there was no will, but none of the next of kin want to do the job. So they hire us as the professional executor.
Listener, Raymond, asks: “What happens to your clients if you die? By you, I mean Anthony S. Park. Who is your backup?” He posted this question on a professional executor video, so we’ll answer in the context of me being a professional executor as opposed to being an attorney.
So, you finally did it: you made and signed your will.
When one of the heirs won’t leave the family home, what can you do?
