Serving as the executor of an estate is a multifaceted job. The executor shoulders the fiduciary responsibility to keep track of all assets and debts for the deceased person and executes the instructions in the will for disposing of the assets.
Claims against the estate could become the executor's personal responsibility if funds aren't handled correctly, says Hugh Drake, a partner with the Brown Hay + Stephens law firm in Springfield, Ill. Taking on this role can involve a steep learning curve, especially if you know little about the deceased person's possessions, the scope of the estate or where important papers were kept.
