You have accepted the appointment and taken up executorship of an estate, but do you really know what your roles and responsibilities of an executor are?
As an executor of a will, you are responsible for administering the assets and carrying out the wishes of the testator as outlined in his/her will. You are also bound by fiduciary duty, which means the law holds to a particular standard the manner in which you carry out the wishes of the deceased – honestly, diligently and fairly. However, few are are experienced or prepared to be executors when the time comes.
In this session, we will share more on the duties and liabilities of executors.
As an executor, the testator has committed much trust unto you to pass on their legacy when they are no longer around. Hence, you have a duty to the beneficiaries of the estate and should not take your duties lightly.
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