How to Serve as the Executor to a Will
- 1). Review the will and discuss the individual's basic financial situation with him before you agree to serve as his executor. This helps you understand how complicated the process may be.
- 2). File the will in probate court to be officially appointed as the will's executor. Have the information of the surviving spouse and children if relevant. You also need to know an approximate value for the items in the estate.
- 3). Inventory the property and assets of the deceased individual. You need to record all assets, both physical and financial, such as investments. Get appraisals done on any valuable items such as expensive jewelry or artwork.
- 4). Care for the assets of the deceased until they are dispersed to the indicated party per the will. If the individual owned a home, this is where you face major responsibility in maintaining the home until it sells or is transferred to an heir.
- 5). Track down the potential heirs. Review the will to determine which items each heir receives according to the deceased's wishes.
- 6). Pay off any outstanding debts or financial obligations from the estate. File a tax return to wrap up the deceased individual's tax obligations. Let all financial institutions and lenders know about the person's death so the accounts may be closed.
- 7). Distribute all of the assets left in the estate according to the will.
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