Degrees and Designations

There was a time when those who had some education in their discipline had one or two letters attached to the end of their signature.

Those days are over.  Now there is often an alphabet of letters that only the holder can describe to those who might ask.

What is missing?   TRUST   trumps advanced knowledge.  And this is often missing

And what is also missing is disciplinary action by the professional associations.  Some yes but just the tip of the iceberg.

If you have ever wondered about this just think of the news coming  from your TV and newspapers. And remember 2008.

FINDING AN EXECUTOR

This may seem like an easy task.  It is not. The executor has very serious issues to deal with on the death of the person who appointed the executor – called the testator.   If the task used to be reasonably routine it no longer is.

• Those who die are living longer
• They may outlive an appointed executor who is often from the same generation
• The beneficiaries are often spread out geographically
• Dissension among the beneficiaries is not uncommon
• Beneficiaries may want a fast resolution to the estate
• The financial implications are much more complex than they were 10 or more years ago
• Those who are age 70+ have fewer choices of an executor. As they get into their 80’as there may be no choices
• Beneficiaries may not be capable of handling the duties
• Litigation is much more common

The legal penalties for an executor not acting in accordance with the WILL are severe.  It is a fine and imprisonment depending on the severity.  Many families do not know this.