The Responsibilities Of An Executor
If you have been named executor of a will, you have many responsibilities to handle when the decedent passes away. In short, your role is to ensure that the estate plan is followed and that all financial concerns such as debts and asset distribution have been resolved. You may benefit from enlisting the services of a lawyer who is knowledgeable on the probate process.
You must follow a process of handling the estate, which includes:
- Submitting the will. You must provide the Register of Wills with the document to verify its validity.
- Contact heirs and creditors. Once you have accounted for all assets and outstanding debts, you must notify heirs and creditors that the decedent has passed away.
- Pay off debts. You will need to determine which assets can be used to pay off any remaining debts on the estate.
- File estate taxes. A percentage of the estate’s worth must go toward estate taxes. You will need to complete and file this form.
- Distribute assets and property. Once all debts and taxes are paid, you will distribute assets appropriately, according to the decedent’s will.
We Will Act As Your Advisor
Our attorneys at Hopkins Heltzel Law Firm act as advisors to executors facing the complicated but important task of distributing an estate. With over 50 years of experience in Pennsylvania estate administration, you are in good hands with our team assisting you.
To ask about how our services can benefit you in a free consultation, please fill out our contact form or call 814-299-5496. We have served clients in DuBois, Clearfield County, Jefferson County, Elk County and the surrounding areas.