Executor of an Estate’s Jobs

It is the executor of an estate’s job to make an inventory for probate. With this job, the executor will be making sure all is in order before going in front of the judge, but it is important to review your state’s laws if there are specific requirements for probate inventory.

First, the executor must locate the assets, usually the most time-consuming part, and turn over the tally to the court. After locating the assets, the executor will need to categorize them, which allows the executor to term broad categories. During this process, the non-probate assets do not need to be accounted for because they pass outside of the estate. Next, the executor will need to value the assets at the fair market value. And finally, the executor has a duty to manage the assets prudently, setting them up for liability if their actions are negligent.

See Terry White, How To Make an Inventory for Court in a Probate Case, Houston Chronicles.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.