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.

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