Creating a useful estate executor checklist

Creating a useful estate executor checklist

When an individual dies, it’s not uncommon for a will to be left behind that appoints an executor to liquidate and close the remaining estate. Being an executor can be time-consuming due to a plethora of legal responsibilities. While no two estates are exactly the same, we’ve compiled an estate executor checklist to help guide you through the process.

Estate executor checklist

  • Obtain, read and understand the stipulations outlined in the will of the deceased.
  • File a petition in probate court so that you can be legally approved to serve as executor.
  • Find, record and safeguard all belongings, from investments and safe deposit boxes to insurance policies and property. File an inventory of assets with the probate court.
  • Locate all real estate records such as deeds, mortgages, etc.
  • Maintain all property until it can be liquidated.
  • Open a bank account and handle all financial responsibilities such as paying bills, utilities, etc.
  • File tax returns on behalf of the estate.
  • When all debts have been paid to the satisfaction of the court, release property to beneficiaries as indicated by the will. Any remaining items can be sold, donated or disposed of.

Estates and laws governing executors vary from state to state, so it’s always advisable to work with an experienced estate attorney and Realtor to ensure that you are acting in the best interests of the deceased individual and to the letter of the law. For more information or assistance preparing your estate executor checklist, please contact The Olear Team today.

Simple tips for selling a house

Simple tips for selling a house

People will often ask our team members if we have any tips for selling a family house. The answer is always yes, because we have a tremendous amount of experience and we know what helps sell a house, and what doesn’t.

Recently, we came across a comprehensive list of tips for selling a house compiled by our associates at Keeping Current Matters. Take a look:

Tips for Selling a House

More tips for selling a house

  • When listing your house for sale, your top goal will be to get the home sold for the best price possible!
  • There are many small projects that you can do to ensure this happens!
  • Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!

If you need additional assistance when buying or selling a home, please remember that The Olear Team is just a phone call or email away — and we’re always willing to help!

Workshop to discuss four steps toward simplifying your home


Has the time come to organize and streamline your home? If so, we have a one-day seminar that you won’t want to miss!

Join Michael Olear, lead broker of The Olear Team at MJ Peterson, as he hosts Right-sizing: Four Steps Toward Simplifying Your Home, at 1:30 p.m. Monday, April 30, in the Orchard Park Senior Center, 70 Linwood Ave., Orchard Park. A local Realtor with 30 years of experience, Michael will offer a simple, step-by-step process to help you simplify your current living space, assess the accessibility and livability of your home and review your options to meet future needs.

To register, please call 662-6452 today!

Home Seller Workshop

Olear Team/MJ Peterson Real Estate and Premium Mortgage Corporation will show you how to achieve maximum value in the shortest period of time. This will take place from 10:30 to 11:30 a.m. Saturday, May 5, in the Fairdale Banquet Center, 672 Wehrle Drive, Amherst. Enjoy a complementary breakfast and there is no cost or obligation if you attend.

We will explain for you the following tactics:

  • Selling your house “as is.”
  • How to stimulate multiple offers for your property.
  • How to sell and buy at the same time.
  • What upgrades provide the highest return on investment?
  • How to obtain bridge financing.
  • How to get ready for a home inspector?
  • How to make sure your buyer is qualified.

This event will also feature Aly Luccari of Bright Organizing Solutions who will present basic home-staging concepts. RESERVATIONS REQUIRED

Please contact The Olear Team office at (716) 880-4442 or [email protected] to reserve your spot!

Appointing an executor after death of friend or loved one

Appointing an executor after death of friend or loved one

Today, we will examine the process of appointing an executor after death.

In a high percentage of cases, an executor of an estate is named in the will left behind by a deceased individual. However, there are some cases where an executor is not named, and yet other scenarios where there is no will left behind.

In such cases where there is no will or no executor named, an individual can petition the court to become executor assuming you can fulfill the requirement of the state. For example, some states require an executor to be at least 18 years of age, of sound mind, with no felony convictions and reside in the same state as the deceased individual.

The role of the executor is vital and it should never be taken lightly. Following are some very basic guidelines for appointing an executor after death (of a friend or loved one):

  • Contact the probate court where the deceased individual lived or owned real estate and ask for instructions on how to proceed. Keep in mind that these rules vary from state to state.
  • Review the assets of the deceased individual to come up with an estimate of their value.
  • Gather information and items such as the death certificate, filing fee, your identification and the asset estimate, and provide them to the probate court.
  • Complete a petition for administration, being sure to answer all questions, and have it notarized.
  • File the petition, pay the filing fee and follow any instructions offered by the court.

If and when the court grants your petition to serve, it will then issue to you the appropriate documents officially naming you the executor of the will.

A much easier path to executorship is to have a discussion with your friend or relative while they are still of sound mind and health, so that the appointment can be documented in the individual’s will. This will save much time and effort down the road.

For more information, please contact an experienced estate attorney or the real estate professionals at The Olear Team today!