The ABC's of Estate Planning: E is for Executor
E is for EXECUTOR, or in the feminine EXECUTRIX. This is the person who collects your assets, pays your final bills, takes care of the filing of tax and probate documents as needed and then distributes everything to your beneficiaries after your death. He, or she, will serve for about a year, so choose someone who has the time or at least the ability to choose legal representation for the job. This term has been replaced in most jurisdictions by the term “Personal Representative,” but TV and movies use Executor all the time. And most of the time incorrectly. But more on that in a later post.