Episode 4
Should You Be An Executor?
In the latest installment of Path to Abundant Living, Scott and Matt address a new topic, surrounding the roles and responsibilities of an executor.
When faced with this role, oftentimes, individuals are unaware of the full extent of responsibilities that accompany this role. Additionally, an executor faces an apparent level of personal risk when assuming this position. Listen as we dive into the duties of the role, as well as the assortment of variables to consider.
So sit back, relax, and enjoy a thought-provoking conversation that will leave you considering whether or not you're suited for the role of an executor.
Timecodes:
0:05 - Overview on the topic of the day
1:38 - What is an executor?
4:35 - There should be careful consideration before accepting the position of an executor
6:04 - What is involved in finding and filing the will
7:45 - The challenge of locating all of the assets in a given estate
9:56 - Advice for executors currently searching for the estate's assets
12:04 - An executor's role of paying out existing debts or liabilities
14:24 - People are often surprised when they learn of the roles and responsibilities of the position
16:04 - The personal level of risk involved in being an executor
20:02 - You must keep detailed records as an executor
23:20 - Closing remarks
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