Financial planning after a loved one passes away can be a stressful headache of legal mess. To prevent this, one aspect of Estate Planning is to name an executor, or a person who will act as the administrator of one's estate upon their death. Whether you have recently been named an executor or are planning to name one for your own estate, it is important to know what an executor is and what their power actually is.
An executor is someone that is deeply trusted, as they will be given significant legal power and responsibility over the estate of the deceased. Because of this, it is most common to hire an executor who is an attorney or law professional with knowledge of what the process will be. However, some people do elect to choose a member of their family whom they trust to understand the process.
For more on the power of an executor, including the process they will go through and the rate for potential payment, you can read our article on Learn-About-Law.com. You can find articles there daily on various law topics, with a significant amount dedicated to estate planning.
Here is a link to our fill article: https://www.oflaherty-law.com/learn-about-law/what-are-the-responsibilities-of-an-executor-in-illinois-probate
