What are the duties of an executive of a will?

Answer 1

You should have in hand the death certificate and the will. Go to the courthouse in the county that the person you are executor of lived in. Show the death certificate and will to the probate court office and tell them you need to set up a 'Probate hearing"..this is the point that my husband is at now with his parents will. You will be given a court date. Most people say, Get an attorney. This is not necessarily true though. If there is a agreement between the beneficialaries, then it is simple to do it yourself. At the hearing you should have the beneficialaries with you so you can all state to the judge your agreement. He will then sign off on it and POW things are done. If there is ANY disagreement you will most definately need a attorney. Keep in my they are not cheap and the more he has to do the more expensive it is. Hope this helps, we are all in agreement to split it three ways between three siblings. Good luck!! Donna

Answer 2

After the death of the testator the executor must submit the will for probate. Once appointed by the court, the executor must pay the debts of the decedent, and settle the estate according to the provisions in the will and the state probate laws, under the supervision of the court.

Answer 3

The executor is required to fulfill the requirements of the will. If there is no will, they need to follow the state's rules for intestacy. The executor is entitled to compensation. They are also responsible for a full inventory of the estate, paying the taxes and filling the appropriate information with the court.

Answer 4

This is a broad question, sort of like asking "what does a pilot do?". That is not meant to be critical, but being an executor is a wide-ranging job. The executor is the appointed representative responsible to execute the instructions in a decedents will, and Shepard the estate and assets through the probate process.

To summarize the process, probate can be broken into six basic steps:

• 1. Validation of the Will
• 2. Appoint executor
• 3. Inventory estate
• 4. Pay claims against the estate
• 5. Pay estate taxes
• 6. Distribute remaining assets

That having been said, each of these steps has numerous subparts. In my book, "The Estate Planning Companion ; A practical guide to your estate plan", I have a complete chapter on the probate process which goes through step by step what the role of an executor is and how the work is to be done.

Any member of the American Academy of Estate Planning Attorneys (www.aaepa.com) should be able to assist you with such an issue. My practice is in Pittsburgh as The Estate Planning Centers at The Coulter Law Offices LLC. Please remember that this is a general discussion only, and is not intended as legal advice upon which anyone should rely. Moreover, I'm typing this reply off of the top of my head as a courtesy, not as a researched answer to your situation. You should consult with a lawyer or appropriate professional regarding you own specific facts and circumstances. Mark T. Coulter, J.D.

Answer 5

The duties of the Executor are too broad to write them all in this forum and they vary from state to state. Briefly, the general duties are the following:

• Safeguard the assets, changing locks if necessary until the will is presented for probate
• Select the attorney who will handle the estate
• Submit the will for allowance and petition for appointment as executor
• Publish notice and notifies heirs at law and beneficiaries
• (Once appointed) Open an estate account if necessary
• Assemble, Inventory and take custody of assets
• Notify Social Security and insurance companies of the death
• Pay the debts of the estate according to statutory priority
• Administer the estate according to the provisions of the will and state law
• File the estate tax return
• Distribute the estate
• File the final account

Answer 6

The executor takes command of the estate: protecting the assets from looting by relatives, neighbors and creditors, posting notices to creditors, making an inventory of the assets, filing lawsuits to claim unpaid accounts and liabilities in the name of the decedent, closing bank accounts, filing tax returns, paying out the amounts owed, liquidating non-specific assets, determining what distributions are to be made, working to complete all distributions and filing the final accounting, among other things.

It is quite often the case than an executor hires a professional estate administration law firm to take care of the technicalities.

Answer 7

Lots! This is a position with tremendous responsibility so bear this in mind when deciding to become one and choosing your own. An executor is the person who is responsible for settling the details of a deceased person's estate. There can be a single executor or one or more people charged with this job. An executor can be related to the deceased person, can be a friend or a lawyer, accountant, or other professional. The main requirement is that the person chosen as executor be at least 18 years old and have not been convicted of a felony. Below is a general outline of some basic executor duties: * Tie up the day-to-day loose ends * Use the funds from the estate to pay ongoing expenses * Pay-off debts and taxes * Set-up bank account for money owed to the deceased * Make arrangements for probate proceedings if necessary * Determine who inherits what property * Distribute property whenever possible * Find and manage the deceased's assets during the probate process. * Supervise the distribution of property and other assets to the beneficiaries in the will.

Answer 8

To preserve and inventory the estate and determine its total assets. Then they have to determine all of the claims against the estate and settle them. Then they distribute the remainder according to the will or the intestacy laws.

Answer 9

The first is to value the estate and inventory all the assets. The next is to identify all of the creditors. Then provide a plan to the court as to how the debts will be settled. They also have to file the tax returns for the estate. If there is anything left over, they are responsible for distributing it to the beneficiaries.

Answer 10

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