An executor is the person named in the will or by the courts to wrap up the deceased’s financial affairs, such as bills, taxes, and property, and make sure all assets are distributed properly. If the courts require a probate proceeding then the executor should be the one to handle it, as well. Our estate lawyers in Cary NC are here to continue providing a checklist for executors to use while performing duties and working to close the estate. If you missed our previous blog, check back here for more things to do as an executor before moving on.
Previously we suggested you make an initial visit to the estate lawyers in Cary NC your loved one worked with to create their estate plan. It’s important to make a second appointment to review the will.
They will help you decide whether or not probate will be needed. If there was no trust involved in the estate plan, filing for probate should be the next step.
Make sure you get a copy on file of all life insurance policies and contact the providers. Then, you’ll be able to begin the process of inventorying any tangible real estate assets. This can include, but is not limited to, tax information, leases, real estate deeds, mortgages, and more.
You may also start to inventory other assets, including but not limited to, furniture, personal contents found inside their home, trucks, cars, boats, recreational vehicles or ATVs, motorcycles, mobile homes, and other similar items.
Intangible items should also be inventoried. This can include bonds, IRAs, stocks, CDs, cash, mortgage notes, pensions, life insurance, and other similar items.
We know this will be a difficult time for you. However, with help from our estate lawyer, you’ll be able to get each item on this checklist completed and move further towards closing the estate. If you have any questions about being an executor or questions that pertain to the items on this list, call our law office.
To find more things to do as an executor, head over to our next blog for a continuation of this checklist. Also, contact our estate lawyers in Cary NC if you have any questions.
Eldreth Law Firm, PLLC | Estate Lawyers Cary NC
Having someone you trust with your estate and the distribution of your assets is important to make sure that your heirs obtain what you want them to receive. The person can be named as part of the estate planning process which includes writing a will. Another aspect of estate planning is determining who will speak on your behalf should you become unable to do so because of illness or other incompetency. You can include a power of attorney document that will name someone to represent you.
If you need help planning your estate, call us today. We can answer questions you may have about estate planning, wills, power of attorney, and more. Do not leave your family without a plan outlining your wishes. Call now to make an appointment.