What Are the Responsibilities of An Executor of A Will?
Oct. 13, 2017
It is important for Floridians of all financial situations to have basic estate planning documents drafted so that when they pass on their interests and intentions will be respected regarding their assets. However, even when testamentary documents are clearly written, it is helpful to have a responsible person named as the individual who will see that the decedent’s wishes are followed and their debts paid. This person is called an executor and their responsibilities surround the execution and probating of a will.
It may fall upon an executor to find the property a decedent names in their will and intends to pass on to a beneficiary. It also may become the responsibility of the executor to amass a list of parties to whom the decedent owed money and ensure that they are paid before any of the decedent’s assets are distributed.
Executors can be tasked with tracking down the beneficiaries who are named in decedents’ wills and helping them understand what role they play in the administration of the wills. An executor may have to decide if a will should be probated; those who are unsure of the requirements of this important step are advised to discuss their questions and concerns with attorneys who include probate administration in their practices.
An executor may have to manage other tasks for a decedent, such as ensuring that payments to be made after the decedent’s death are managed and that their final income taxes are filed. Serving in the capacity of an executor can be overwhelming but the role is manageable when those who need assistance seek support from estate planning and probate administration legal professionals.