Episode 8

Published on:

28th Jul 2021

Advice You Can Trust - Episode 8 ( Should You Be An Executor?)

In the newest episode of Advice You Can Trust, James and Ryan tackle a new topic surrounding the roles and responsibilities of an executor.

When faced with this role, oftentimes, individuals are unaware of the full extent of responsibilities that accompany this role. Additionally, an executor faces an apparent level of personal risk when assuming this position. Listen as James explains the duties of the role, as well as the assortment of variables to consider.

So sit back, relax, and enjoy a thought-provoking conversation that will leave you considering whether or not you're suited for the role of an executor.


0:07 - Overview on today's topic

2:00 - What is an executor and what does this role entail?

3:54 - Why someone shouldn't automatically accept this responsibility without careful consideration

6:00 - What is involved with filing a will and setting up the estate bank account

8:00 - Issues that can be challenging for an executor, particularly finding all the assets

9:49 - Advice for an executors hunting for all the estate's assets

11:56 - The roles and responsibilities surrounding paying debts and liabilities tied to the estate

14:36 - People tend to be surprised when learning all that an executor is responsible for

16:15 - Executors should be concerned with a level of risk associated with the position

21:20 - Closing remarks and final tips for executors

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About the Podcast

Advice You Can Trust
Let's Move Forward. Together.
Welcome to Advice You Can Trust, where we explore an array of topics surrounding wealth management and the lessons that can be learned from super rich individuals, families, and businesses as a whole.

Listen as James Nichols, Wealth Manager at Cumberland River Group, taps into years of experience in working with clients to provide highly customized advice, investment solutions, and financial planning services. Dedicated to his clients, James prides himself on the relationships he has nurtured over the years.

Each episode we'll dive into new financial topics and provide enlightening conversations full of advice you can ultimately trust and apply to your own best practices.

Thanks for joining us. Now, let's move forward together.