![]() The person’s credit card company, bank and mortgage company all need to be notified about the death. You will most likely need support from the estate attorney, accountant, investment advisor, insurance agent and others to access accounts and to file all of the necessary paperwork. Of course, it is important to have support as you go through this process. Without a will, state law will determine who receives distributions from the estate. If the deceased left a will, you’ll be responsible for contacting those named in the will to inform them about their inheritance and ensure they receive the designated property. You may have to make decisions about which assets to sell and which to distribute to heirs. Locate the Assets and Manage DistributionĪs executor, it’s your responsibility to control and distribute the assets.In some cases, assets can pass to heirs without probate (or via a streamlined probate process), but the law in most states still requires filing the will in probate court. As executor, these responsibilities could include communicating with the funeral home to ensure the wishes of the deceased are carried out.Ī copy of the will needs to be filed in probate court. The will may include instructions for the funeral arrangements. You’ll need to provide a copy of the death certificate for a number of tasks, including filing life insurance claims and tax returns, accessing financial accounts and notifying organizations such as the Social Security Administration of the person’s death. The funeral home will provide the death certificate ask for multiple copies. ![]() The first responsibility of an estate executor is to obtain copies of the death certificate. Here are the essential duties of the executor of a will: It’s a hefty job, so be sure you understand what it entails before you accept the role of executor of the will. It is an honor to be named the executor of a loved one’s estate, and it’s important to ensure you see their wishes through to the finish line. Each state has intestacy laws that provide a roadmap for estate distribution. If there is no will or no executor has been named in the will (typically referred to as intestacy), the probate court appoints a person called the estate administrator who is responsible for distributing property according to state law in lieu of a will. Depending on the complexity of the deceased’s last wishes or the assets being transferred, it can be a lot of work in a short period. An executor is responsible for distributing the estate to beneficiaries according to the terms set out in the will and under the supervision of the probate court.A trustee is tasked with distributing trust assets to beneficiaries according to the terms of the trust and is required to manage the trust assets during the life of the trustor (person creating the trust) and after their death, for as long as the trust is in existence.The role of Executor is often confused with the role of a trustee, but there are some important distinctions between the two: What Does the Executor of a Will Do?Īt its most basic, an executor is tasked with distributing the property of the person who passed away, as well as arranging for payment of estate debts and expenses according to the will of the deceased. ![]() This estate executor checklist for executing a will can help you more easily navigate the process while making sure none of your duties slip through the cracks. If you’re named the executor of an estate (also called a personal representative), you’ll have many details to manage. The executor is responsible for closing out the estate and carrying out the will of the deceased. ![]() After death, the executor of a will has a lot of duties. ![]()
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