Episode 8

Published on:

13th Jul 2021

Advance Your Wealth - Should You Be An Executor?

In the newest installment of Advance Your Wealth, Homer and Ryan explore the inner-workings of what it means to be an executor. When asked by a family member or close friend, it may be difficult to say no to this role. However, it's crucially important that you understand the role itself, and the responsibilities it comes with, before accepting the position.

When an individual becomes an executor for a given estate, they are tasked with numerous things. Not only do they need to track down the assets linked to the estate, but they also need to ensure any outstanding debts or liabilities are paid off. Not doing so, presents an element of personal risk for the executor themselves.

So sit back, relax, and enjoy yet another provoking conversation surrounding the duties of an executor, which will have you considering if you're fit for the job.


0:07 - Overview on the topic of the day

1:51 - What is an executor and what does their position entail?

3:00 - Why someone shouldn't accept this responsibility immediately

4:16 - The initial steps an executor needs to take

5:35 - The challenge of finding all of the estate's assets

6:40 - Advice for executors searching for all the assets

8:45 - Advice for executors when dealing with debts and taxes

11:30 - What the level of risk looks like personally for the executor

14:14 - When approached by someone and asked to be an executor, how to handle that conversation

15:43 - Closing remarks

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About the Podcast

Advance Your Wealth With Homer Smith
Financial advice to generate the results you expect and desire
Advance Your Wealth With Homer Smith provides you and your business with the financial advice needed to make calculated decisions moving forward. With over 18 years of industry experience, Homer Smith, Private Wealth Advisor with Konvergent Wealth Partners, understands the importance of a commitment to customer service and strives to help clients pursue their financial goals towards aspirations and retirement.

Each episode we'll take a deep dive into a different complex topic surrounding personal and business wealth management. So sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.

Investment advice offered through Integrated Financial Partners, doing business as konvergent wealth partners, a registered investment advisor.