“If you have been named the executor of an estate, you have a legal responsibility to wrap up its affairs, arrange for the payment of any income and estate taxes, and distribute the assets of the estate, all in accordance with both the will and the applicable laws.” But all too often, executors make one of these five mistakes:
- Making distributions too early.
- Failing to make the “portability election.”
- Failing to properly advertise the estate.
- Failing to liquidate securities through a market downturn.
- Failing to properly conclude the estate.
Read about these five mistakes to avoid on Forbes’ article here. All information and quotes from Forbes.com’s article “Five Mistakes To Avoid In Estate Administration”.