Top 10 Things Every Executor and Trustee Should Know

1. Read the document, read the document, read the document!
2. You are not required to accept the job of executor or trustee even if you are named under a will or trust.
3. You, and no one else, are in charge of and responsible for how the estate or trust is handled.
4. Understanding the basics of the process and what your responsibilities are will help you administer the estate or trust correctly.
5. You don’t have to, and in most cases should not, do it alone. Don’t hesitate to hire professionals when needed.
6. Keeping open and frequent communications with beneficiaries is the best way to avoid criticism.
7. You must treat all beneficiaries the same, especially if you are one of them.
8. Your job is to carry out the decedent’s specific directives and protect the interests of all beneficiaries.
9. You are entitled to get paid for the job you do.
10. Read the document, read the document, read the document!