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 fast. Honor, yes, but a serious responsibility too!

• 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.

Once again, that's "The Executor's Handbook, A Step By Step Guide" by Hughes and Klein.