Choosing an Executor for Your Estate

Choosing an Executor

Choosing an Executor to handle your estate is difficult. It is tempting to name a spouse or family member –
but do you know the responsibilities and duties of an Executor?

An Executor (known in Colorado as a Personal Representative) is named within a will to administer an estate.
They are responsible for several tasks during the probate process, which is the legal process that takes place
in Probate Court to administer a deceased person’s estate.

What Are the Duties of an Executor?

The list can be long, but the basic responsibilities include:

• Compiling an inventory of assets and bills
• Opening a bank account and ensuring creditors are paid
• Obtaining a federal tax identification number for the estate and preparing the estate’s tax return
• Ensuring all legal paperwork is filed correctly and on time
• Locating potential heirs, beneficiaries, and creditors
• Distributing the estate’s assets according to the will

The Probate Process

This process may take months or even years to complete, and unfortunately, it often happens during a time of grief
for loved ones. However, an Executor does not have to handle this alone.

A Probate Attorney can assist with many of the administrative and legal tasks required in probate. In fact, a probate
attorney may perform nearly all of the Executor’s duties, though the Executor may still need to sign certain court
documents. Attorney fees may be paid from the estate.

Choosing the Right Executor

Selecting an Executor who can manage these responsibilities is important. It is best to discuss your choice with the
person beforehand. Your will should also include a backup choice in case the first person is unwilling or unable to serve.

Executor duties can be time-consuming and challenging. Speak with an estate planning attorney to understand your options
for estate administration.