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Identifying the key responsibilities of an estate executor

| May 6, 2019 | Estate And Probate Litigation |

When someone passes away, friends and family members of the deceased often experience heavy emotions. On top of the loss, there are a number of important matters that must be handled. The estate executor, sometimes referred to as the estate administrator, is responsible for making sure these matters are resolved. In some cases, the deceased will name an executor in the last will and testament.  If the deceased did not appoint one, however, the state may appoint someone to carry out those duties.

Upon a person’s passing, the estate administrator is the person that will receive critical documents, including the will and death certificate. The executor should then contact creditors and insurance companies to inform them of the death. This will allow the administrator to collect life insurance policies and any other money owed to the estate. If the estate must go through the probate process, the estate administrator must oversee the procedures. In addition, all property and assets belonging to the estate must be gathered and appraised. Any remaining taxes and debts are then taken out of the estate’s value. During the probate process, the executor must ensure that all of the property and assets are protected from theft or vandalization.

Finally, the executor must ensure the remaining property and assets are distributed to the beneficiaries named in the last will and testament. The duties associated with being an estate administrator can be time consuming. It is crucial that the administrator is detail-oriented and prepared to take on the role of this important position.