What You Should Do As Executor Before A Parent Dies

If your parents name you as their executor, what are three things you must know before the time comes for you to actually deal with it?

According to Mary Randolph, author of The Executor's Guide¸ here are things you must know about being an executor:

1. You have to know what your parents own and where things are. Many people have small accounts here and there as well as insurance policies and pieces of jewelry safely put away. These can easily get overlooked.

2. Ask your parents if they have a will or trust. Ask them where it is. You have to be sure you can easily have the originals and not just copies of these documents.

3. Try to organize a family meeting. Have your parents tell everyone about what to expect. It may not be a pleasant meeting at first, but surprises should be avoided. Otherwise, finding things out later may prove to be even more unpleasant.