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Acting as someone’s Executor is not a job to be taken lightly. The first duty that falls on an Executor is to arrange the deceased’s funeral. When someone dies, the institutions where the deceased held assets must be notified as soon as reasonably possible and all accounts will be frozen, it can therefore at times be difficult to obtain the deceased’s money to pay for things such as ongoing mortgage payments, house insurance etc. Sometimes the Executor must pay the funeral costs personally when there is not money readily available in the estate, which can put financial pressure on the Executor. Other liabilities may also arise that must be paid right away which may again fall on the Executor to settle. Continue reading “The Pitfalls of Being an Executor”