Why Executors Struggle (And How to Spare Yours)
When someone passes away, the executor becomes responsible for:
- Locating all bank accounts, investments, and insurance policies
- Finding titles, deeds, and legal documents
- Accessing digital accounts and passwords
- Valuing and distributing personal property
- Paying debts and filing final tax returns
The problem: Most of this information exists only in the deceased person's head or scattered across dozens of places—old files, email accounts, safe deposit boxes, forgotten passwords.
Estate settlement typically takes 6-12 months or longer, with executors spending hundreds of hours tracking down information.1
The solution: A complete, organized inventory prepared while you're alive.
What Your Executor Actually Needs
Put yourself in your executor's shoes for a moment. They're grieving, overwhelmed, and legally responsible for handling everything correctly.
Here's what makes their job possible instead of impossible:
1. A List of Every Financial Account
- Bank accounts (checking, savings, money market)
- Investment accounts (brokerage, IRAs, 401(k)s)
- Credit cards and outstanding debts
- Account numbers and institution names
Why it matters: Without this list, executors call dozens of banks hoping to find accounts. Some are never discovered.
2. Location of Important Documents
- Will and trust documents
- Insurance policies (life, home, auto)
- Property deeds and vehicle titles
- Marriage certificate, birth certificate, military records
Why it matters: These documents are legally required. If they're lost, settlement is delayed by months.
3. Digital Account Access
- Email and cloud storage passwords
- Online banking credentials
- Social media and subscription services
- Cryptocurrency wallet keys
Why it matters: Digital assets are often locked forever without proper access information.
4. Personal Property with Value
- Jewelry, collectibles, and heirlooms
- Furniture and electronics
- Vehicles, tools, and equipment
- Photos showing condition and approximate values
Why it matters: These items must be valued, insured during probate, and distributed fairly.
How to Prepare an Executor-Ready Inventory
The best gift you can give your executor is clarity. Here's how to provide it:
Step 1: Document Everything in One Place
Don't scatter information across notebooks, files, and sticky notes. Create a single, organized record that includes:
- Account names and numbers
- Locations of physical documents
- Passwords and access instructions
- Contact information for advisors (attorney, accountant, financial planner)
Step 2: Make It Accessible When Needed
Your executor can't use an inventory they can't find. Options include:
- Telling your executor where to look ("in the filing cabinet under Estate")
- Using a secure cloud platform they can access after your passing
- Providing controlled access to trusted family members or your attorney
Step 3: Include Clear Instructions
Don't make your executor guess. Add notes like:
- "Close this subscription service"
- "Contact John Smith at ABC Insurance for life insurance claim"
- "Jewelry in safe deposit box at First National Bank"
Step 4: Update It Regularly
An outdated inventory creates almost as much confusion as no inventory. Review and update at least once a year or after major life changes (new accounts, moves, purchases).
Real-World Impact: With vs. Without an Inventory
Example for illustrative purposes:
Without an Inventory:
An executor in Illinois spent 8 months tracking down her father's accounts. She found checking and savings accounts easily, but missed a retirement account at his former employer and a life insurance policy through the military. Both were eventually discovered by accident nearly a year later.
With an Inventory:
A family using an organized digital inventory accessed it within hours of their mother's passing. The executor filed all necessary paperwork within two weeks, located every account on the first try, and distributed assets within 90 days.
The difference? About 30 minutes of annual maintenance.
How Big TOA Makes Executor Preparation Simple
Big TOA was designed specifically to help families organize estate information without stress:
- 📋 Document all assets - financial accounts, property, valuables, and digital assets in one secure place
- 🔒 Store securely - bank-level encryption protects sensitive information
- 👥 Share access - give your executor or family controlled access when the time comes
- 📄 Generate reports - export complete summaries for attorneys or probate court
- ♻️ Update easily - make changes anytime from phone, tablet, or computer
You control who sees what, and when. Your executor gets access only when needed—not before.
Organize Your Estate Information Free →
What to Tell Your Executor Today
Even if you haven't created a full inventory yet, have this conversation:
- "I'm working on organizing my estate information. When the time comes, you'll know where to find everything."
- "I'm using [Big TOA / a secure system] to document accounts and assets. Here's how you'll access it."
- "My attorney is [Name]. My financial advisor is [Name]. They both know about this inventory."
This 5-minute conversation eliminates months of uncertainty.
Common Questions
Q: Can I prepare the inventory myself, or do I need a lawyer?
You can absolutely start yourself. Tools like Big TOA make it easy to organize everything. Your attorney can then review it for legal compliance.
Q: What if I don't have all the details yet?
Start with what you know. Even partial documentation helps enormously. You can fill in gaps over time.
Q: How should my executor access this information?
Big TOA allows secure, encrypted sharing. You can grant access to activate after your passing (coming soon), or share instructions with your attorney now.
Q: What happens if there's no inventory at all?
Your executor must reconstruct everything from scratch—calling financial institutions, searching filing cabinets, going through old mail. It delays distribution by months and increases costs.
Q: Can I change who has access later?
Yes. You maintain full control and can add, remove, or modify access permissions anytime.
One Final Thought
Being an executor without guidance is one of the hardest responsibilities a person can face. But being an executor WITH a clear, organized inventory is manageable.
The question isn't whether to prepare—it's whether to spare your loved ones unnecessary stress during an already difficult time.
Give your executor the gift of clarity. Start organizing today.
Create Your Free Estate Inventory →
References
- American Bar Association. Estate Administration: How Long Does Probate Take? 2024. www.americanbar.org