Share:

The executor of an estate is tasked with finalizing the deceased's legal and financial affairs, as well as overseeing the distribution of assets as defined in the will. So what, exactly, is involved in these tasks? Below, will and estate lawyer Luke A. Weiland Attorney at Law in Wood County, Wisconsin, discusses an executor's primary duties in more detail.

Here’s what an executor is expected to carry out:

  • File a Copy of the Will: The local probate courts will need a copy of the will on file. Contact them or visit them directly to find out the exact rules and regulations for filing in your area.
  • Notify Others of the Death: The various individuals, businesses, and organizations with whom the deceased had ties need to be informed of the death. In addition to letting friends, family, and other loved ones know, you should also alert government agencies, banks, credit card companies, mortgage lenders, and utility providers.
  • wills and estatesSet up a Bank Account & Pay Debts: Another aspect of the executor's role is to settle all outstanding balances on behalf of the deceased. They’ll need to set up a bank account to both deposit incoming funds and pay estate-related bills like debts and taxes.
  • Take an Inventory: Though it may be time-consuming to complete, a comprehensive inventory of the estate is essential for the proper distribution of assets. Once you've compiled this crucial record, file a copy with the local probate courts.
  • Determine if Probability Is Necessary: An estate may be able to avoid the probate process in certain situations, such as an estate with little or no money. If you're uncertain whether probate is necessary, always ask a will and estate attorney.
  • Keep Property Until It Can Be Distributed or Sold: It falls to the executor to keep all property and assets safe and secure until these items are distributed according to the terms of the will.
  • Distribute Assets: Make sure each person or organization named in the will receives the property or assets the decedent instructed. For instance, if the deceased's granddaughter is bequeathed a jewelry collection, ensure she receives it.
  • Represent the Estate in Court: Legal issues can sometimes arise during the settling of an estate. If any of these issues require the estate to appear in court, you, as a representative of the estate, will have to take on this responsibility and serve as the voice of the deceased.

To better understand your role as executor, or to obtain legal help and guidance at any stage of the probate process, trust Luke A. Weiland, Attorney at Law. Attorney Weiland represents clients in a variety of legal matters, including all aspects of wills and estates. Call (715) 422-6808, visit his firm's website, or contact them on Facebook or Twitter to schedule a consultation.

tracking