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I’m the Executor of a Will? Now What?

May 2, 2017Probate

Executor of a WillDid you recently find out that you are the Executor of a Will of a recently deceased loved one? If so, and the appointment was not discussed with you at the time it was made, you are probably wondering what it means to be the Executor. Unless you have served as an Executor before, you may not know where to start or who to turn to for help. Although no two estates are exactly the same, there are some common duties and responsibilities that the Executor of a Will usually has when probating an estate. To ensure that you do not make a costly mistake, however, you should consult with an experienced California estate planning attorney as soon as possible.

What Does the Executor of a Will Do?

When an individual dies, he or she leaves behind an estate that is made up of all the decedent’s assets. That estate must then go through a legal process known as “probate.” If you were named as the Executor under the terms of the decedent’s Last Will and Testament, it is your job to administer the estate and oversee the probate process.

Executor Duties During Probate

As the Executor of the Will, you have a number of important duties and responsibilities during the probate of the estate. In fact, your job begins as soon as you learn of the death of the decedent. Among your duties are:

  • Locate an original Will – as soon as you learn of the death of the decedent, and that you were appointed the Executor of the Will, it is imperative that you locate an original copy of the decedent’s Will.
  • Secure assets – also as soon after the decedent’s death as possible, you need to secure any known assets. That might entail anything from closing financial accounts to locking up a vacation home.
  • Identify, locate, and value assets – you will then need to do a more thorough job of identifying and locating estate assets. They must also be categorized as probate or non-probate assets because not all assets are required to go through probate. Assets such as trust assets, proceeds of a life insurance policy, and certain types of jointly held property bypass the probate process. Once you know which assets are part of the probate of the estate, you must obtain a date of death value for them.
  • Determine whether formal probate is required – not all estates require formal probate. There is a small estate alternative to formal probate for estates that qualify. Once you have an estimate for the state’s value, and you know the kind of assets included in the estate, you can decide which type is required.
  • Open probate – a petition to open probate, along with the original coy of the decedent’s Will, must be submitted to the appropriate court to officially open the probate of the estate.
  • Notify creditors – creditors of the estate must be notified to give them the opportunity to file a claim against the estate. Known creditors may be notified individually; however, all unknown creditor must be notified by publishing a copy of the notice of probate in a local newspaper.
  • Review claims – creditors have a statutory time period within which to file claims against the estate. As the Executor, you must review all claims filed and approve or deny each claim.
  • Defend the Will – if someone contests the Will submitted for probate, the Executor is required to defend the Will throughout any litigation that follows.
  • Pay taxes – all estates are potentially subject to federal gift and estate taxes. The Executor must determine if any taxes are due and file all state and federal tax returns.
  • Transfer assets – at the end of the probate process, the Executor must effectuate the legal transfer of any remaining estate assets to the intended beneficiary and/or heirs of the estate.

Contact Us

For additional information, please download our FREE estate planning worksheet. If you have additional questions or concerns, consult with an experienced California estate planning attorney. Contact theCollins Law Firm by calling (310) 677-9787 to reserve for a Free Estate Planning Workshop.

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Caprice Collins

Caprice Collins

Attorney Caprice L. Collins is a top rated Harvard Law School graduate. She has 34 years of legal experience with a successful law practice devoted exclusively to Estate/Business Planning and Trust Administration. Attorney Collins is a well-respected keynote speaker on Wills, Living Trusts, Estate Planning, Business Planning and Trust Administration. She has appeared on California’s Real Estate Radio Station KTLK AM 1150 as a legal expert on Estate Planning and Living Trusts among many other notable media appearances.
Caprice Collins

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Ms. Collins and her team has earned my trusts and respect. They showed professionalism, attention to details and made me feel like I am family. It is truly reassuring to know that my family and I won’t he on our own after the documents are executed.

Saida H.–
My overall experience with Collins Law Firm has been great. The process of estate planning was thoroughly explained with personal care and concern. The entire staff is very personable and eliminate any intimidation. I feel very relieved to have completed this process and I am very comfortable in knowing that Collins Law Group is available to us for any needed help.

Mattie S.–
We received excellent and clearly explained directions with respect to the creation of our living trust and the required follow up actions. Caprice is easy to work with and she inspires full confidence in her abilities. We continue to work with her as we review changes in our lives and the adjustments required to insure that our trust does what we want it to do.

John C.–
Attorney Collins was referred to us by a friend who had a living trust prepared for his family. We attended one of her very informative seminars on living trusts. Shortly there after we had out trust done.  She is very thorough, precise and follows up to ensure we’re satisfied with our estate plan. The staff was wonderful as well.

Tony B.–
We’ve had Living Trusts done by two different attorneys over the last 12 years. After retaining the Collins Law Group, it became clear that the others weren’t up to the same standard. Attorney Collins and her staff have an eye for detail that was absent from the other firms we used. It was the difference between dining at a gourmet restaurant, and a fast food drive-thru. The Collins Law Group is terrific at putting you at ease, and makes the process relatable and easy-to-understand. After watching other family members go through the ugly, hot mess of Probate, we definitely feel safe and in control of our estate and the legacy we’ll leave behind for our children.

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