In some instances, a person drawing up their will may not wish to name a family member as executor of their estate. Typically, this is to avoid conflict within the family. There may be a complex estate or business interests may also complicate management of the estate. A professional, who can serve as executor can help ensure an estate is handled ethically, and with the utmost care. The executor of an estate is required to identify assets, obtain valuations on assets, notify creditors, and beneficiaries. Additionally, the liquidation and distribution of assets must be completed. Once these steps have been completed, a final report must be prepared and the taxes for the estate must be filed.
Contact CB Fiduciary Services if you are considering naming a non-family member as an executor of your estate. In some cases, this step can prevent disputes between family members or ensure someone with experience is dealing with a complicated estate. Either way, you can feel confident your final wishes are being carried out.