Estate planning is a serious decision that everyone should consider. Despite how important it is, less than 60% of Americans have an estate plan. Part of estate planning includes deciding who will act as your estate administrator. Estate administration is a serious responsibility with many major obligations, so you need to choose wisely who will act on your behalf when you are gone.
An administrator’s responsibilities
Before you select someone to administer your estate, you should consider what you are asking them to do. Estate administrators are responsible for many things, including:
- Collecting and inventorying your estate
- Administering your assets to your beneficiaries
- Alerting banks, creditors, and other account holders of your passing
- Paying any remaining debts from your estate
- Administering your estate in accordance with the law
- Defending their actions if challenged
Keep in mind that these are only a few of the responsibilities of an administrator, and if you choose someone close to you for the tasks, they may also have to juggle all of these with their own grieving of your loss. Thankfully, there are other options for appointing someone as your administrator.
Choose a professional to represent you
Instead of asking a loved one to set aside their grief to manage your estate, you can appoint an attorney to act as your estate administrator. A skilled estate administration lawyer would know exactly what needs to be done for your estate, how to manage everything swiftly, efficiently, and with a delicate hand in such a tender time.
If someone who is unfamiliar with the probate process is responsible for administering your estate, it can cost your loved ones more time, money, and energy than it should to settle things. Instead, leave it to a professional attorney to represent your needs in estate administration and let your loved ones focus on moving forward after your loss.