Being named as an Executor is a meaningful responsibility. It often comes with confusion and stress. Executors are tasked with managing the legal and financial affairs of someone who has passed away, which is a role that is easy to misunderstand. Below, we answer some of the most common questions Executors ask and highlight some key mistakes to avoid during the estate administration process.
Can I remove staples from the original Will to make copying easier?
No. Removing staples from a Will is one of the most common and serious errors Executors make. Even if a bank or another institution asks to remove staples for scanning, never allow it. Any evidence of tampering, including the removal of staples, can cause delays in probate and may require sworn explanations to the court.
Should I give the original Will to a bank, insurer, or other third party?
No. The original Will should only be given to the estate lawyer. Do not mail it, hand it over to a third party, or leave it with a financial institution. Most organizations can view and return the Will during a meeting. If a copy is required, your lawyer can create a notarially certified copy that institutions will accept.
Is it okay to write notes or highlight parts of the Will?
No. Writing on a Will, including small annotations or highlights, can cause significant legal issues. Any markings may trigger court questions and require formal explanations, which can delay the probate process and increase legal costs. Keep your notes in a separate document instead.
Do I need to pay estate expenses out of my own pocket?
Not usually. Many Executors believe they need to cover costs personally and be reimbursed later, but this is often unnecessary. If there is sufficient funds, most banks and credit unions will pay important bills, such as funeral costs, utilities, taxes, and mortgage payments, directly from the deceased’s account.
Can I deposit estate funds into my personal bank account?
No. All estate-related funds should be kept entirely separate from your personal finances. Executors should open a dedicated estate account to manage deposits and payments. If you are working with a lawyer, they can also receive and hold estate funds in trust. Mixing estate and personal funds can raise legal and ethical issues, even if you are acting in good faith.
What if I am the only beneficiary? Do I still need a separate estate account?
Yes, it is still recommended. While there may be some flexibility when the Executor is also the sole beneficiary, such as a surviving spouse, it is still best practice to keep estate funds separate. This helps avoid confusion, ensures clean accounting, and protects against future disputes or audits.
Need Help Acting as an Executor?
Being an Executor can feel overwhelming. Small missteps often lead to costly delays or legal challenges. If you have been named an Executor and are not sure where to start, we can help. Contact a member of our Wills & Estates team – we’re here to help.