Getting Started in the Executor Role - executor.org

Описание: Getting Started In the Executor Role
You’ve been named as executor
But what does that mean?
And what is an executor expected to do?
You can search books and websites for answers
But none provide a comprehensive list of steps an executor needs to complete.
Until now.
Executor.org can help guide you through this process..

LEARN ABOUT THE EXECUTOR ROLE
The first step is to learn about the executor role.
An executor is the person responsible for the administration of a deceased person's estate.
To be an executor, you must be named as executor in the deceased's will
or
you can be appointed executor by the probate court
the process typically takes about a year, and will require you to complete 100 to 150 tasks.

SCENARIO SPECIFICS
Next you’ll want to get some more specifics about the situation.
If you know you are listed as an executor in a will
and the will-writer is still alive
talk with that person about his or her wishes
Talking with the will-writer can help you gather useful information
You’ll want to learn things like:
~Where financial assets or asset lists are kept
~Who is your accountant - and where are your tax returns
~Where is your will kept
~What paperless statements and billing do you utilize
If the will writer has already passed away,
it is time to start working through your executor.org checklist.

DUTIES OF AN EXECUTOR
As mentioned, there are many responsibilities in the role.
Some of the first things you’ll want to consider are:
~Getting a copy of the will
~Obtaining copies of the death certificate
~Notifying a dozen or more relevant parties of the death
~Protecting the estate assets
You’ll also ultimately likely be managing a range of assets, and selling them or distributing them according to the will.

PROBATE COURT
The executor follows the instructions of the probate court.
Probate courts are the courts tasked with overseeing the closure of estates after a person’s death.
The probate judge will determine if the final distribution of the estate complies with the necessary laws.
The probate judge makes decisions if there are any questions about the validity of a will or the meaning of particular instructions in the will.
The executor is required to act as a fiduciary, which means he or she works for the best interests of the beneficiaries -- not themselves.
Related to this, there is potential legal liability in the executor role if you do not meet your fiduciary duties.

WE’RE HERE TO HELP.
What we’ve shared thus far his is just the beginning.
Executor.org can guide you through the entire process,
every step of the way.
Sign up for a customized plan today.
You’ll save time. You’ll save money, and you’ll have peace of mind knowing you’re doing the best job possible in the role.