When a person has been named the executor of an estate, there are often questions that arise pertaining to the exact duties and responsibilities of an estate executor. Once an executor has been appointed, they are responsible for negotiating the probate process on behalf of the estate and are accountable to the beneficiaries of the estate.
An executor’s responsibilities include, but are not limited to:
· Compiling a thorough inventory of estate assets and liabilities
· Providing creditors with notice and settling outstanding debts
· Accounting for and paying any estate taxes
· Accounting for and paying any mortgages or fees during probate
· Distributing assets to heirs
· Making a final accounting to the court at the close of probate
Many people who have been named the executor of an estate find the legal probate process to be overwhelming, which it certainly can be for the layperson. Thankfully, an executor does not have to navigate this process alone. Engaging an experienced Orange County probate lawyer is always an option for executors, with the estate being responsible for any fees incurred for legal services during probate.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.