An executor has a fiduciary responsibility to
protect the estate, manage its affairs, and
move it toward settlement. It is a job with
considerable authority, plenty of moving
parts, and often very little preparation.

There is a lot to do, sometimes in a relatively
short period. The work comes in fits and starts,
with unexpected delays, new demands, unfamiliar
people, and decisions that can’t always wait.

Being street smart means keeping your
eyes on the big picture, using your time wisely,
and knowing when to slow down.

And when it comes to scams, street smarts can
save an estate considerable money, time,
and trouble.

Verification Is Everything

Executors encounter all sorts of people:
contractors, buyers, creditors, service
providers, financial representatives, and
individuals claiming some interest in the estate.

Most are entirely legitimate. Some may not be.

Remember that probate information is often
public, and an estate can attract attention
from people you have never met.

Verify identities, credentials, claims, and
requests independently. Don’t rely solely
on the telephone number, website, or documents
someone hands you.

If you find yourself in a position where you
cannot verify something, but someone insists
you need to move forward,
pump the brakes.

A perfectly reasonable response is:

“I’ll need to run this by my attorney.
He’s a good one.”

You don’t need to justify the delay.
As fiduciary, caution is part of your job.

Know Who You’re Dealing With

Street smarts extend to who you let into the
house, who has access to estate property,
and who knows your plans.

There’s no need to become suspicious of
everyone. But a little situational awareness
goes a long way.

Let trusted friends or family know where
you’re working and what you’re doing,
particularly when meeting unfamiliar people
at an estate property.

Transparency is good practice anyway.
Communication helps keep everyone informed
and reduces misunderstandings.

Get It in Writing

As an authorized signatory for the estate,
you may wield considerable financial authority.
That authority carries responsibility.

Before agreeing to services, sales, expenses,
or other arrangements, consider both sides
of the transaction.

What are they asking for? What are you asking
for? What exactly is being promised, at what
price, and under what conditions?

Don’t rush into a deal simply because it
moves something off your desk.

A hazy agreement is no agreement.

Get it in writing. Make sure you understand it.
Be comfortable with the terms before you commit
estate resources.

When appropriate, run it by your attorney.

Your Team Is an Asset

If you’re fortunate enough to have a few
trusted friends, family members, or advisers
willing to help, you’re ahead of the game.

These people can provide another set of eyes,
a second opinion, and someone to bounce ideas
off when circumstances become confusing.

A good estate attorney is an invaluable asset.
But even attorneys should not be beyond
reasonable questions.

Sometimes your closest advisers can help you
recognize when you need to ask your attorney
for a clearer explanation or seek a second
professional opinion.

The executor’s job can be lonely. You don’t
have to make every judgment in isolation.

A Practical Scam Checklist for Executors

Estate administration involves unfamiliar
transactions, people, and requests. A few
simple precautions can prevent expensive
mistakes.

Before committing estate money, property,
information, or access, ask yourself:

• Have I verified who I’m dealing with?
  Independently confirm identities, businesses,
  professional credentials, and contact information.
• Is this a legitimate estate obligation?
  Verify unfamiliar bills, creditor claims,
  collection notices, and demands for payment
  before paying anything.
• Am I being pressured?
  Urgency, threats, secrecy, and demands for
  immediate payment are warning signs.
  Don’t let someone else’s manufactured
  deadline become your emergency.
• Have payment instructions changed?
  Independently confirm bank account details
  and wire instructions using a trusted
  telephone number, especially when changes
  arrive by email or text.
• Who is entering the estate property?
  Know who you’re admitting, why they’re there,
  and whether someone else should be present.
  Don’t give strangers unrestricted access.
• Am I sharing sensitive information
  unnecessarily?
  Protect account numbers, Social Security
  numbers, financial records, passwords,
  and estate documents.
• Is the agreement clear and in writing?
  Confirm the scope of work, payment terms,
  responsibilities, and any conditions
  before signing.
• Have I kept a record?
  Document conversations, transactions,
  receipts, agreements, and decisions.
  A good paper trail protects both the estate
  and the executor.
• Would a second opinion help?
  When something doesn’t add up, consult
  your attorney or a trusted adviser
  before proceeding.

The street-smart rule: If you can’t verify it,
don’t authorize it.

Street Smart Means Knowing When to Stop

Moving the estate forward doesn’t mean
moving recklessly.

Sometimes the smartest decision is to
postpone a transaction, make another phone
call, ask one more question, or simply say,
“Not yet.”

Verification. Communication. Written agreements.
Trusted counsel.

None of these should be considered obstacles
to getting the job done. They’re how a
careful executor gets the job done.

Street smart means knowing the difference
between progress and unnecessary risk.

And sometimes, the best way to move the estate
forward is to pump the brakes.