While you initially may be flattered that someone trusted you enough to name you the executor of their estate, you will quickly find it can be a daunting task.
As an executor, it is your duty to ensure the wishes of the deceased are carried out as well as protect the property that will be distributed to the beneficiaries. You will be responsible for paying outstanding bills and settling up with creditors.
Everything must be done following a strict set of rules set forth under the laws of your state and not following those rules can result in the executor being personally liable for the debts of the estate.
That is why it is so important to be thorough and patient throughout the probate process. It can be overwhelming trying to keep track of everything that is required of you. Fortunately, there are several online tools that can help you stay organized and manage the estate properly.
Below are some online resources that can make your job as executor a bit easier:
EstateExec
This site walks you through step-by-step on all matters concerning the estate. It provides checklists and recordkeeping features, and will also allow other interested parties access to the information by logging in under the estate's account.
NOLO's Executor's Guide
Technically, this is a book, but it is available in e-book form and is a great resource for anyone handling estate affairs on their own.
Actec
This site (American College of Trust and Estate Counsel) provides a number of resources for those who have been named an estate executor or trustee.
Speak with an Estate Planning Attorney Torrance
Complex estates or those with complications would be best served by discussing the particulars and options with an attorney who specializes in wills and estates. Often, consulting with an attorney prior to taking any action can help to save a great many problems and will help to identify whether retaining the services of an attorney would be the best course of actions for your circumstances.
Please feel free to call us or request a free initial consultation to discuss your role as executor. We also handle estate planning and bankruptcies.
