There are a number of duties and responsibilities an executor has. Here is a list of some of these duties:
- resolve disputes among family members;
- handle funeral arrangements for the deceased;
- hire the attorney for the estate;
- preserve, collect and value the estate’s assets;
- cooperate with the attorney for the estate in preparing and filing appropriate documents with the Surrogate’s Court;
- paying the debts of the decedent and the expenses related to the estate administration;
- distribute the assets to the appropriate beneficiaries named in the will;
- prepare an accounting with regard to the income and assets of the estate; and,
- prepare and file tax returns when necessary with state and federal governmental authorities.
Conclusion
An executor is a fiduciary who has a lot of responsibility concerning financial matters. The best way to deal with these issues is to hire a knowledgeable, trustworthy, estates lawyer to assist you, guide you, and see to it the estate is properly handled.
Elliot Schlissel and his associates have more than 100 years of combined legal experience representing clients with regard to all aspects of wills, trusts, and estate matters.
