{"id":9095,"date":"2021-08-24T18:17:17","date_gmt":"2021-08-24T18:17:17","guid":{"rendered":"https:\/\/ogbornelaw.com\/?p=9095"},"modified":"2023-07-19T17:45:54","modified_gmt":"2023-07-19T17:45:54","slug":"10-duties-of-an-executor-of-a-will","status":"publish","type":"post","link":"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/","title":{"rendered":"10 Duties of an Executor of a Will"},"content":{"rendered":"<p>As an executorship of a will involves tons of obligations and responsibilities. The following are the basics so you will know what to expect.<\/p>\n<p>Being selected as an executor is equally an honor and a commitment. Prior to accepting, you should make sure you understand what you&#8217;re getting yourself into. Generally speaking, you&#8217;ll be allocating the decedent\u2019s property and arranging for the paying of estate debts and expenditures.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#Responsibilities_and_Obligations_of_an_Executor\" >Responsibilities and Obligations of an Executor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#1_Acquire_a_Copy_of_the_Will_and_Get_it_Filed_With_the_Local_Probate_Court\" >1. Acquire a Copy of the Will and Get it Filed With the Local Probate Court<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#2_Notify_Financial_Institutions_Credit_Card_Companies_and_Governmental_Agencies_of_the_Decedents_Passing\" >2. Notify Financial Institutions, Credit Card Companies, and Governmental Agencies of the Decedent\u2019s Passing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#3_Determine_What_Kind_of_Probate_Is_Required\" >3. Determine What Kind of Probate Is Required<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#4_Represent_the_Estate_in_a_Court\" >4. Represent the Estate in a Court<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#5_Establish_a_Financial_Institution_Account_for_Incoming_Funds_and_Pay_Any_Current_Bills\" >5. Establish a Financial Institution Account for Incoming Funds and Pay Any Current Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#6_File_a_Catalog_of_the_Estates_Assets_With_the_Court\" >6. File a Catalog of the Estate&#8217;s Assets With the Court<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#7_Uphold_the_Property_Until_It_Can_Be_Allocated_or_Sold\" >7. Uphold the Property Until It Can Be Allocated or Sold<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#8_Pay_the_Estates_Debts_and_Taxes\" >8. Pay the Estate&#8217;s Debts and Taxes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#9_Allocate_Assets\" >9. Allocate Assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#10_Disposal_of_Other_Property\" >10. Disposal of Other Property<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#Source\" >Source:<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/10-duties-of-an-executor-of-a-will\/#Estate_Planning_Attorney_in_Phoenix_Arizona\" >Estate Planning Attorney in Phoenix, Arizona<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Responsibilities_and_Obligations_of_an_Executor\"><\/span>Responsibilities and Obligations of an Executor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Executors are legally responsible for resolving the finances of the decedent, usually making sure debts and taxes are settled and what is left over is properly allocated to the heirs.<\/p>\n<ul>\n<li>State law differs on the requirements of the person that can serve as executors, but usually, executors come from the ranks of a families\u2014spouses, adult children, living parents, and brothers and sisters.<\/li>\n<\/ul>\n<p>Even though state laws furnish for the executor\u2019s payment, because a lot of executors are close family members, they usually don\u2019t request for compensation.<\/p>\n<p>Besides executing duties in an attentive, unbiased and truthful manner, an executor might also be obligated to carry out any or all of the following, amongst others:<\/p>\n<h2><span class=\"ez-toc-section\" id=\"1_Acquire_a_Copy_of_the_Will_and_Get_it_Filed_With_the_Local_Probate_Court\"><\/span>1. Acquire a Copy of the Will and Get it Filed With the Local Probate Court<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The executor is responsible for locating, reading and comprehending the will\u2014generally, even if probate isn\u2019t required, the will should still be filed within the probate court. At this point, the executor also establishes who is going to inherit the property.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Notify_Financial_Institutions_Credit_Card_Companies_and_Governmental_Agencies_of_the_Decedents_Passing\"><\/span>2. Notify Financial Institutions, Credit Card Companies, and Governmental Agencies of the Decedent\u2019s Passing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Administration of Social Security, in addition to the decedent\u2019s financial institutions and credit card companies, are just some instances of who needs to be notified of the passing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_Determine_What_Kind_of_Probate_Is_Required\"><\/span>3. Determine What Kind of Probate Is Required<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since inheritance laws might expedite the passing of specific properties outside of probate (like property held jointly by two spouses), probate isn\u2019t always required. Furthermore, the value of the estate might allow it to pass through an accelerated process. When probate is necessary, you are required to file a petition with the court to be named an executor. You are going to likely require an attorney&#8217;s assistance to achieve this.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"4_Represent_the_Estate_in_a_Court\"><\/span>4. Represent the Estate in a Court<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>An executor might be required to be present in court on the estate\u2019s behalf.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Establish_a_Financial_Institution_Account_for_Incoming_Funds_and_Pay_Any_Current_Bills\"><\/span>5. Establish a Financial Institution Account for Incoming Funds and Pay Any Current Bills<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>When the deceased is owed money like incoming paychecks, this account is able to retain them. The executor needs to be on the watch for any mortgages, utilities and comparable bills that still are required to be paid during the probate process.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"6_File_a_Catalog_of_the_Estates_Assets_With_the_Court\"><\/span>6. File a Catalog of the Estate&#8217;s Assets With the Court<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a lot of states, the court has a requirement that the executor submit a thorough catalog of the assets held in the probate estate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"7_Uphold_the_Property_Until_It_Can_Be_Allocated_or_Sold\"><\/span>7. Uphold the Property Until It Can Be Allocated or Sold<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This comprises of upholding a house until it is allocated to heirs or sold- even determining if the property is required to be sold at all. Additionally, an executor needs to be sure to locate all personal belongings in the estate and safeguard it until allocation. If the deceased had a safety deposit box, the executor should find it and keep it protect.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"8_Pay_the_Estates_Debts_and_Taxes\"><\/span>8. Pay the Estate&#8217;s Debts and Taxes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>State law mandates the process for notifying creditors, and the estate is also required to file income tax returns from the first of the present year until the date of the decedent&#8217;s passing. When the estate is big enough, there could be state and\/or federal estate taxes to pay in addition.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"9_Allocate_Assets\"><\/span>9. Allocate Assets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Allocation happens according to the wishes declared in the will. If there isn\u2019t a will, state intestacy laws are implemented.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"10_Disposal_of_Other_Property\"><\/span>10. Disposal of Other Property<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>When there is any property remaining following the estate&#8217;s debts being paid off and allocation to heirs, the executor is responsible for its disposal.<\/p>\n<p>Because estates vary greatly in size and convolution, and executor&#8217;s duty might may be easy or difficult to execute- and responsibilities might very well go further than the ten primary items in this list. But whereas an executor can refuse the position or step down at any point throughout the process, occasionally all that is required is some legal counsel. Speaking with an attorney is typically to make sure that the executor correctly complies with their duties.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Source\"><\/span>Source:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li>\n<p style=\"margin-left: 28.35pt; text-indent: -28.35pt;\">Michelle Kaminsky, E. (2021, February 11). <a href=\"https:\/\/www.legalzoom.com\/articles\/the-other-side-of-the-will-top-10-duties-of-an-executor\">Top 10 duties of an executor of a will.<\/a> LegalZoom. https:\/\/www.legalzoom.com\/articles\/the-other-side-of-the-will-top-10-duties-of-an-executor.<\/p>\n<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Estate_Planning_Attorney_in_Phoenix_Arizona\"><\/span>Estate Planning Attorney in Phoenix, Arizona<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here at <a href=\"https:\/\/g.page\/ogbornelaw?share\">Ogborne Law<\/a>, we are proud to include estate planning among our services. Your\u00a0<a href=\"https:\/\/ogbornelaw.com\/getting-to-know-michelle-ogborne-estate-planning-attorney\/\">estate planning attorney<\/a>\u00a0will work closely with you to draw up all the documents you\u2019ll need to communicate your wishes to the court. We\u2019ll take the time to answer all of your questions and guide you through this important process. If you\u2019re ready to start your consultation with Ogborne Law, visit our\u00a0<a href=\"https:\/\/ogbornelaw.com\/schedule-a-consultation\/estate-planning\/\">Estate Planning Consultation<\/a>\u00a0request page.<\/p>\n<p>There are so many aspects to consider in estate planning, and we haven\u2019t even touched on those individuals who own a business!<\/p>\n<p>You\u2019ve worked hard for your life, and you need to protect it. You owe it to your family and your legacy to take care of planning now.<\/p>\n<p><a href=\"https:\/\/ogbornelaw.com\/contact\/\">Contact Ogborne Law<\/a> to schedule your estate-planning session.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As an executorship of a will involves tons of obligations and responsibilities. The following are the basics so you will know what to expect. Being selected as an executor is equally an honor and a commitment. Prior to accepting, you should make sure you understand what you&#8217;re getting yourself into. Generally speaking, you&#8217;ll be allocating&hellip;<\/p>\n","protected":false},"author":3,"featured_media":10717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[223,222,165],"tags":[],"class_list":["post-9095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-executor","category-last-will-and-testament","category-will","category-223","category-222","category-165","description-off"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>10 Duties of a Executor of a Will - Ogborne Law<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"10 Duties of a Executor of a Will - Ogborne Law\" \/>\n<meta property=\"og:description\" content=\"As an executorship of a will involves tons of obligations and responsibilities. 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The following are the basics so you will know what to expect. Being selected as an executor is equally an honor and a commitment. Prior to accepting, you should make sure you understand what you&#8217;re getting yourself into. 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