Deciding who to appoint as executor of your estate is a much more important decision than you may realize. http://www.rbsllc.com/estate_planning/index.php/probate/

10. Forfeit ability to decide how estate assets are
handled
Oregon intestate succession laws determine
distribution of assets
Also forfeit ability to appoint executor
Anyone can petition to become personal
representative of your estate if you die intestate
Same duties and responsibilities as executor

12. Executor must identify, locate, secure, and value all of
your estate assets
After your death, assets must be secured
Date of death value must also be ascertained down
the road
An inventory may be required by the court handling
the probate

18. One function of probate is to allow creditors of the
estate to file claims
Executor must publish notice of probate in a local
newspaper
Executor must review all claims
Approved claims are paid out of estate assets

20. Executor must defend estate during any litigation
Will contest or creditor claim could result in litigation
Executor essentially stands in your shoes

29. Your executor fails to secure estate assets in a
timely fashion and some are lost forever
Your executor fails to hire an attorney to help, or
waits too long to hire one, wasting time and
money because of mistakes made in the absence
of professional advice
Your executor pays creditor claims that shouldn’t
have been paid, wasting estate assets

30. Your executor sells priceless family heirlooms to
provide liquidity
Your executor allows real property owned by the
estate to deteriorate during the probate
process, diminishing the value for beneficiaries
Your executor makes a costly mistake on your
estate tax return, or fails to file one, costing the
estate thousands in penalties and fines