When a friend or family member asks you to consider being the executor of their estate, most likely you'd be flattered, as well you should be. It's a major show of faith and trust.

But not so fast. Honor, yes. But a serious responsibility too. Here are just a few of the duties of estate executor. If you agree you should be sure to get access to financial statements, insurance policies and deeds. If you think it's necessary, find a professional who may assist you with your estate duties.

Record how you spend your time and the reasons for your decisions. Keep beneficiaries abreast of major decisions with estate assets. And depending on the complexity of the estate, you may want to consider taking an executor's fee.

For more information there's an excellent book, "The Executor's Handbook, A Step By Step Guide."

Executor is a big honor and a big responsibility, so think before you agree.

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