What to Do if You’re Named as an Estate Executor

An estate executor is a critical part of an estate plan.

Have you agreed to serve as an estate executor? Many surviving parents ask an adult child to take on this role. Unmarried siblings often name a brother or sister, and close friends may be chosen when no relatives are available.

Serving as an executor is a significant responsibility. If you’re new to the role, it’s essential to understand what’s expected. Assess the estate’s complexity to determine if you need an attorney, accountant, appraiser, or other professionals for assistance.

Below, you’ll find a list of key responsibilities and steps to take after a loved one’s passing.

Key steps to take as an executor:

Find the will and death certificate:
Locate the deceased person’s original will and obtain a certified copy of their death certificate.

Contact the probate court:
File the will with the probate court in the county where the deceased person resided at time of death to initiate the probate process and apply for “letters testamentary” which officially grants you the authority to act as the executor.

Notify creditors:
Once Letters are issued by the probate court, then notice of the probate matter must be published for 4-weeks in a legal newspaper.  Confirm that this requirement is being completed through the court or your responsibility under the court’s instructions.

Gather assets:
Identify and secure all assets belonging to the deceased, including bank accounts, real estate, investments, and personal belongings.

Appraise assets:
If necessary, have assets appraised by a professional to determine their fair market value for distribution purposes.

Pay debts and taxes:
Pay any outstanding timely claims made by creditors in the probate matter owed by the deceased, including medical bills, credit card balances, and taxes.

File estate tax returns:
Prepare and file any necessary estate tax returns with the appropriate tax authorities. Any tax payment obligations should be paid at the same time as the filing of the estate tax return.

Distribute assets:
One distribution have been madeDistribute the remaining assets to beneficiaries as outlined in the will, ensuring each person receives their designated share.

Close the estate:
Once all debts are paid, assets distributed, and taxes filed, petition the probate court to formally close the estate.

When You Need Professional Help

For decades, we’ve helped clients create estate plans tailored to their needs. If you’re serving as an estate executor, whether for a simple or complex estate, call our office at (470) 235-7868. We’ll guide you through the process and help you avoid unnecessary delays or complications.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!