Mark Glendon

What is the Job of an Executor?

When someone passes, the assets and accounts that are left behind make up the decedent's estate. Processing the estate, meaning selling or transferring assets as well as paying debts and closing accounts is either handled through a probate court if no will is in place or through an executor if the decedent did have a will in place.

The executor is someone who is named by the decedent while they are still living. In most cases, an executor will be assigned during the drafting of a will, and this person will be responsible for taking action on behalf of the decedent once they have passed. An executor is usually a family member, but some people choose to assign the role to an attorney instead. The executor should also be notified of the intent to name them before issuing the assignment.

What Does an Executor Do?

When someone dies, the executor is responsible for acting on behalf of the decedent. They will handle tasks like obtaining copies of the death certificate, reviewing legal and financial documents, overseeing the transfer of accounts and assets and paying outstanding debts that still require attention.

Additionally, an estate executor will need to remove or transfer funds from financial accounts, close accounts that are no longer needed and ensure that the decedent's wishes are carried out per the decedent's will. If tax obligations exist or there are tax liabilities on real estate or commercial accounts, the executor must also pay these using funds from the estate. Ready to secure your future? Visit this website now to consult with an experienced executor attorney.

Does an Executor Need an Attorney?

In some cases, the tasks involved in settling an estate are fairly straightforward and can be handled by someone with no experience. In others, however, legal and financial matters can be complex and may require the assistance of an executor attorney. Someone who finds that they are dealing with matters like a contested will or creditors that are demanding payment may need to work with an executor attorney to protect their rights as well as the integrity of the decedent's wishes as spelled out in a will document.

Author Resource:-

Mark writes often about estate planning. His articles may include topics like real estate closing attorney and business succession laws to help the people in needs. You can find his thoughts at real estate law blog.