Executor Job Description: What you Need to Know. The Executor Role Requires Multiple Skill Sets

Accountable to the beneficiaries, you, as an executor are responsible for settling the estate in accordance with both the wishes of the deceased, and the law.

The executor is like a project manager. It is indeed an honour, but the reality of this role is that settling an estate involves duties and responsibilities that can feel like a real job, or in many cases, another job. Besides having the time and availability, an executor requires multiple skill sets–similar to a project manager.

As an executor, you must:

– Identify, collect, safeguard and distribute the assets of the deceased 

– Provide ongoing communication with the estate beneficiaries or family members 

– Identify and work with competent professionals to assist in their duties, like tax, legal and investment professionals where applicable 

– Fulfil all legal and tax obligations

– Maintain an accounting record of the estate settlement for the beneficiaries. 

Time commitment required by you: 

– 12 to 36+ months, 100 to 400+ hours 

– A minimum of 12 to 36 months and sometimes longer depending on the complexity 

– It can take anywhere from 100 to  more than 400 hours to settle an estate 

– Numerous tasks may need to be conducted in person, which can require extra travel time especially for those out of province or the local area.

Executor assessment: 

The chart below identifies the major skills required to fulfil the executor role. Use this chart to determine your or your executor’s readiness for the role.

(Submitted by Crystal Millar and Jo Ann Parisien)