An estate executor can be one or more people designated to handle the estate of a deceased person. Such executors perform a host of duties, and these duties are determined by factors such as the type of inheritance and whether a trust is involved.
The Beginning of Taking Care of a Settlement of an Estate
Frequently, an estate executor obtains legal aid, such as a Palm Springs estate administration attorney, to help him or her work through the settlement, which can take a fair amount of time in complicated cases. The executor needs to take an inventory of all personal assets, pay any debts and file a final tax return before the remaining assets can be divvied up.
State Laws May Dictate the Beneficiaries
Many people use a last will and testament to name their heirs. If there is no will present, state laws dictate the beneficiaries, which are normally close living relatives. In some locations, estate executors are required to get court affirmation by documenting all activity for court approval. In many states, executors have to be bonded as well. No one younger than 18, or who has a felony conviction, can serve as an executor.
What an Estate Executor is Responsible For
Some of the things that an estate executor expects to be responsible for are funeral arrangements, selling off real estate property and personal assets such as vehicles, and gathering documents from bank accounts and other financial reserves. Those, who find they have been designated as an executor, can contact a Palm Springs estate administration attorney to get knowledgeable assistance for each step of the process.
Contact Our Palm Springs Estate Administration Attorneys
Contact us at 760-322-2275 to schedule a consultation.