The statistic shows the result of a survey carried out among wealthy and ultra wealthy Americans in the United States. This particular statistic deals with the most difficult aspects of acting as an executor or trustee of an estate. 22 percent of the wealthy Americans interviewed stated the managing disagreements among heirs was the most difficult part of serving as an executor or trustee of an estate.
Which of the following was the most difficult part of serving as an executor or trustee of an estate?
Most difficult part
Share of respondents
Commitment of time required
29%
Having sufficient legal/ financial knowledge
26%
Filing tax returns
25%
Managing disagreement among heirs
22%
Having access to records and information
20%
Sharing decision-making with co-executor
17%
Not compensated adequately for time
13%
Paying bills or debts owed
11%
Determining value of assets
11%
Distributing assets without clear
instructions from the deceased
Base: those who have previously ever served as an executor
Method of interview
Online survey
Supplementary notes
Age of respondents: Average 53 years old
-Age 18-33: 13 percent (Gen Y or Millennials)
-Age 34-49: 22 percent (Gen X)
-Age 50-68: 45 percent (Baby Boomers)
-Age 69+: 20 percent.
- 57 percent men
- 43 percent women.
The 680 people interviewed for this nationwide survey were high net worth or ultra high net worth individuals.
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Bank of America (U.S.Trust). (June 21, 2014). Which of the following was the most difficult part of serving as an executor or trustee of an estate? [Graph]. In Statista. Retrieved April 09, 2020, from https://www.statista.com/statistics/281604/difficulty-in-being-an-executor-of-an-estate-among-wealthy-americans/
Bank of America (U.S.Trust). "Which of the following was the most difficult part of serving as an executor or trustee of an estate?." Chart. June 21, 2014. Statista. Accessed April 09, 2020. https://www.statista.com/statistics/281604/difficulty-in-being-an-executor-of-an-estate-among-wealthy-americans/
Bank of America (U.S.Trust). (2014). Which of the following was the most difficult part of serving as an executor or trustee of an estate?. Statista. Statista Inc.. Accessed: April 09, 2020. https://www.statista.com/statistics/281604/difficulty-in-being-an-executor-of-an-estate-among-wealthy-americans/
Bank of America (U.S.Trust). "Which of The following Was The Most Difficult Part of Serving as An Executor or Trustee of An Estate?." Statista, Statista Inc., 21 Jun 2014, https://www.statista.com/statistics/281604/difficulty-in-being-an-executor-of-an-estate-among-wealthy-americans/
Bank of America (U.S.Trust), Which of the following was the most difficult part of serving as an executor or trustee of an estate? Statista, https://www.statista.com/statistics/281604/difficulty-in-being-an-executor-of-an-estate-among-wealthy-americans/ (last visited April 09, 2020)
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