Organization as a Tool for Executors

Being named executor of an estate is no small undertaking.  An executor becomes legally responsible for protecting the assets of the decedent until the estate administration is complete.  This can be a complicated, lengthy process, and organization is the key to keeping it manageable.  “Estate administration can be complex, especially if the estate planning is incomplete or there are disputes about the estate.  Staying organized can help.”

From the very beginning, executors should understand their legal responsibilities.  When an executor accepts the position, he or she must act in good faith to protect the assets of the estate until probate is completed.  This includes refusing to sell off assets or allow others to meddle with them. 

The first step as an executor is to obtain a death certificate.  Copies of the death certificate will be needed when notifying financial accounts, life insurance and other organizations.  Next, the executor must find the will or trust documents.  The will should be filed with the probate court shortly after the death. 

Once estate planning documents are gathered, it may be necessary to consult with an attorney who can help the executor understand the legal issues surrounding the estate.  With the assistance of an attorney, the executor can begin administering the estate. This includes tracking down all assets, using the assets to pay outstanding debts and taxes and administering the remaining assets to heirs.

See Hook Law Center, When Named Executor of an Estate, Early Organization is Key, Law Firm Newswire, Oct. 29, 2014.