During the testator’s life, they appointed a trusted executor in their estate plan. The executor’s main role is to settle the estate by carrying out the instructions laid out in the testator’s will.
The executor has many duties to fulfill before an estate is settled. Here are just some of the duties the executor is expected to complete:
Locate the will
The very first thing for the executor to do is locate the decedent’s will. The testator may have left their will in a secure and easily accessible location, such as a safe, filing cabinet or folder. Alternatively, the will may be located with a probate court.
Locating the will is typically the executor’s first priority. If the will can not be located, the estate could enter intestate, which means the state would be responsible for managing the estate.
Submit will to probate court
Once the will is located, the executor can submit the will to probate court. The probate court may review the will to ensure it is valid. Then the executor may be given legal authority to settle the estate.
Collect death certificates
To complete a majority of the executor’s duties, the executor will need to collect multiple death certificates. A death certificate can be collected at a funeral home, which is an official document that declares the death of an individual.
Alert interested parties
With the use of the death certificates, the executor can contact interested parties to inform them of the testator’s passing. Parties can include insurance companies, banks, creditors, employers and landlords.
Distribute assets to beneficiaries
The main objective of the executor is to distribute assets to beneficiaries. This is often the last step to settle the estate.
If the executor fails to perform their duties, then they may breach their fiduciary duty, which is to act in the best interests of the estate. The executor can approach legal guidance to help them fulfill their duties.