The Role of a Will Executor
Will executors have plenty of important roles and responsibilities to fulfill. Being chosen as an executor is both an honor and at times overwhelming too. Before getting started, appointed executors are encouraged to become familiar with their duties to come and how state laws may influence their handling of an estate. An executor may need to transfer the deceased’s assets (such as property and money), finalize payment of outstanding debts, communicate with beneficiaries or heirs, and much more.
The person chosen as a will executor should be conscientious, willing to ask for help, a problem solver, and someone who has the decedent’s best interest at heart. Along with being unbiased and diligent, an executor is required to perform duties such as or related to:
- Obtaining a copy of the will and then filing with probate court
- Informing banks, government agencies, and credit card companies about decedent’s passing
- Deciding what form of probate is required and filing petition to court
- Establishing a bank account for ongoing bills and incoming funds
- Representing the decedent’s estate in court
- Maintaining property until it can be sold or transferred to beneficiaries/heirs
- Inventorying assets of the estate and submitting to court
- Paying the decedent’s taxes and other debts
- Abiding by wishes expressed by the decedent in the will and other related estate planning documents
Because the size of someone’s estate can vary in size and nuances, a will executor’s job may be simple or challenging to complete. An executor can decline the position if they so wish, and if that happens, the court will appoint someone else to take their place. As our Will Executor Lawyer friends from Klenk Law would likely also recommend, those who are anxious about fulfilling a will executor role should reach out for guidance right from the start.