Real Estate Help for Executors and Those with Power of Attorney

Photo of Power of Attorney ContractIf you are the executor of an estate or have power of attorney and need to sell a house in Western New York, the Olear Team at MJ Peterson can help. Contact us today at 716-880-4442 or info@olear.com.

The experienced, caring professionals of the Olear Team at MJ Peterson provide a simple, complete service to help you sell a house for an estate. We manage the entire real estate process for you. We offer one reasonable flat fee, from expediting the sale of personal property to every aspect of preparing the house for sale.

If you have to sell a house for someone else as executor or power of attorney and have questions or would like more information on how we can help, contact us today at 716-880-4442 or info@olear.com.

The Role of an Executor in Selling a House

In the real estate profession, the words “estate executor” come up often during conversations with homeowners, attorneys, financial experts and other industry professionals. But there are many individuals who don’t understand the important role played by an estate executor. This role includes responsibilities to oversee the property and belongings of a deceased friend or family member.

So what does an executor do? In simple terms, the executor oversees disposition of property and possessions. It’s a large responsibility making sure that a person’s last wishes are granted. The executor is responsible for making sure that any debts and creditors that the deceased has are paid off. They must also distribute any remaining money or property according to their wishes.

Often an executor’s duty involves selling the deceased’s house. Doing so is a process that can quickly become complicated without assistance from trusted professionals. That’s why the Olear Team at MJ Peterson developed a program to make it easier to sell a house for an estate. We provide referrals to fellow respected professionals. These professionals can help with this process and might include attorneys, home inspectors, contractors and more.

More About An Executor’s Duties

An executor does not have to be a lawyer or a financial expert. But, the law does require an executor to fulfill his or her duties with the utmost honesty and diligence. The legal term for this is “fiduciary duty.”

An executor is not entitled to proceeds from the sale of property of the estate. However, an executor is often entitled to a fee as compensation for administering the will. Most states mandate that this fee be reasonable given the size or complexity of the will.

There are many duties that an executor of a will will have to fulfill. These duties can include finding the deceased person’s assets and keeping them safe until they can be properly distributed. They will be deciding if probating the last will and testament in court is necessary. They will also be responsible for finding and contacting people that were named in a will who are supposed to inherit money or property. Finally, they must make sure the will is filed in the appropriate probate court and they need to wrap up all the deceased’s affairs.

Other responsibilities may include setting up a bank account for the estate and continuing all necessary payments. Paying off debts and creditors, paying final income taxes and ensuring the property distribution of the deceased’s property are other likely possibilities.

Serving as an executor is not always an easy task. It is an honorable endeavor that should be completed to the very best of your ability. We can help. Contact the Olear Team at MJ Peterson at 716-880-4442 or info@olear.com.