There are statutory limitation periods that exist at law which represent dates after which no claims may be brought against the estate. The limitation period may be as short as two years from the last date of certain activities; in other cases, the window to sue remains open for much longer. In order to claim protection under an applicable limitation period, the executor may be required to pay personally in order to defend or settle a claim. Ultimately, some or all of the cost of defense may have to be "clawed back" from the beneficiaries

The executor is personally liable for his or her actions to the following groups or individuals:
• Beneficiaries and creditors for investment losses and breaches of trust; and
• Other parties, with whom the deceased may have had dealings, forcontractual obligations and wrongs in law (tort)

This is a brief summary of tasks pertaining to the financial aspects of your duties. There are a number of non-financial related tasks that must be performed as well.
• obtaining the probated will of the decedent;
• advertising for and/or notifying creditors and claimants/beneficiaries;
• accounting for the assets and liabilities of the estate;
• collecting and securing the assets of the estate;
• protecting the assets of the estate;
• paying the liabilities of the estate and collecting any receivables;
• filing final tax returns of the estate

The executor has a fiduciary duty to the parties to the estate. A fiduciary duty is a much higher standard of care and performance than is typically required in a non-fiduciary role, because it involves the management and distribution of money belonging to other parties

The executor is the personal representative of the deceased person and has essentially the same rights, duties and obligations that the deceased person had while they were alive.

If it no, then you need to invite your financial advisor, accountant and lawyer for your family meeting

You need to arrange family meeting every other year with your family members

If your executor does not have a copy, please give a copy of your will to your executors.

If you don’t have a trust, then you need get advice from the lawyer to set up the Trust for your estate plan.

You need to review your will every couple of years because you may have life event change during recent years.

Lawyer will help you to prepare for the legal aspect of the estate plan

Accountant will help you to minimize your estate taxes and final tax return

Financial advisor will help you protect your asset and providing you life insurance as a replacement income.

If not, you are required to have a signed will draft by two witnesses

Every selected Power of Attorney requires a copy of the Power of Attorney.

If you do not have a power of attorney; you will need to have a financial and personal power of attorney.