Being named executor is a significant responsibility. Understanding your duties helps you serve effectively.
What Is an Executor?
The person named in a will to manage the estate and carry out the deceased's wishes.
Initial Responsibilities
Locate the Will
Find the original will and any codicils.
File with Probate Court
Submit the will to begin the probate process.
Obtain Death Certificates
You'll need multiple certified copies.
Notify Interested Parties
Inform beneficiaries, creditors, and government agencies.
Asset Management
Inventory Assets
Create a complete list of all estate assets.
Secure Property
Protect real estate, vehicles, and valuables.
Manage Finances
Open estate bank account, collect income.
Appraise Assets
Get professional valuations when needed.
Debt and Tax Obligations
Pay Valid Debts
Settle legitimate claims against the estate.
File Tax Returns
Income tax and estate tax returns as required.
Maintain Records
Keep detailed records of all transactions.
Distribution
Follow Will Terms
Distribute assets according to the will.
Get Receipts
Document all distributions.
Final Accounting
Provide accounting to beneficiaries and court.
Get Help
Pioneer Credit Solution connects executors with resources. Call 1-888-271-2293.