This podcast episode discusses the common executor mistakes that can lead to personal liability. Executors are advised to take a sober second judgment at the beginning and ask themselves if they are ready for the role. They should also be aware of the types of assets they are managing and the type of estate they are going through. 

This episode also highlighted the importance of hiring the right professionals with experience in estates returns and meeting the appropriate deadlines.

Key points:

• Consider whether to act as an executor or not as it can bring personal liability
• Get appropriate legal and professional advice
• The estate requires a financial advisor to invest and manage the assets.
• An insurance professional is needed to preserve the assets and ensure that there is adequate insurance coverage.
• It is important to hire the right accountant with experience in estates returns to manage the tax issues and meet the appropriate deadlines.

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
Facebook
LinkedIn
Instagram

Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
Facebook
LinkedIn
Instagram