If someone named you as the executor or administrator of their estate, it is very likely that they held you in high esteem. They likely trust your ability to remain organized while handling all the details of the estate and believed that you were ethical enough to fulfill your obligations to all of the beneficiaries and heirs.
There is a lot of work involved in handling someone’s estate and executing the terms of their last will. Cutting corners to finish things up more quickly could end up being very problematic for you. Instead, you should take great pains to ensure you follow all the terms of the will and document everything that you do.
Receipts and records protect the estate
Before you can begin distributing assets to family members, you must first handle the financial obligations of the deceased. Some companies have very strange internal policies involved when a customer or client dies. This can lead to duplicate billing and other issues.
You will need to maintain copies of the death certificate and proof of all payments made to ensure that there are no conflicts. If you fail to pay all legitimate debts, that could end up impacting the value of the estate or the assets left behind for its beneficiaries.
Proper documentation protects you as the executor
When people aren’t happy about the terms of a last will, they could lash out on the person following the will, rather than the one who wrote it. People may try to accuse you of wrongdoing or attempts to get more than their fair amount of the estate by claiming they didn’t receive something they did.
Maintaining records of every transaction, including the distribution of physical assets to family members, helps you prove that you have fulfilled your obligations. If someone challenges you in court, those receipts can protect your role as executor as well as your reputation.