A Real-Life Lesson: How to Prepare an Executor for Loss of a Parent

The Red Wagon Estate Planning & Elder Law Show

How can you prepare to be the executor of your parents' estate? Join Jeff as he unpacks the emotional and logistical challenges described in the AARP article, "Mom Died. Then Came the Financial Ordeal." It's a first-person account of serving as an executor. You'll learn how to avoid common pitfalls and why proactive communication is a powerful gift. Jeff also details the benefits of pre-planning, education, and self-care, especially for adult children who are dealing with grief and responsibility at the same time.

"Mom Died. Then Came the Financial Ordeal” originally appeared in AARP: The Magazine and has been shared in numerous publications, including The Amazing Care Network (ACN). Read the ACN version here: https://www.amazingcarenetwork.com/my-mom-died-then-came-the-ordeal/

WHAT YOU NEED TO KNOW

(00:00) Episode introduction.

(03:02) The AARP article is a daughter’s story of navigating the probate system after her mother’s death.

(07:35) Communicate openly with your children so that they are not caught off guard by funeral costs and other expenses.

(10:06) Consider pre-arranging and pre-paying for the funeral.

(10:36) With regard to legal fees, trust administration tends to be less expensive than probate.

(13:23) For banks and utilities, in particular, some red tape is unavoidable.

(15:47) An executor can benefit from education and guidance before and during the probate process, especially when under the emotional strain of losing a parent.

(16:54) The executor can be held personally liable if there is a problem with creditors, beneficiaries, etc.

(19:15) Experienced law firms are invaluable when managing probate administration for an executor.

(22:06) Communicate your wishes to your children. Organize your administrative and financial info now to prevent chaos later.

(24:10) Survivors should not neglect self-care.

LINKS AND RESOURCES MENTIONED

Bellomo & Associates workshops:https://bellomoassociates.com/workshops/

• Life Care Planning
• The Three Secrets of Estate Planning
• Nuts & Bolts of Medicaid

For more information, call us at [phone].

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