What are the Executors Duties During the Probate Process?

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What are the Executors duties during the Probate Process?

  • The Executor reads the Will and Expedites the Burial instructions
  • Meets members of the family and other interested parties who desire aid and information, confers with the attorney, and meet with family member and go over financial affairs.
  • SAFEGUARDS YOUR ASSETS- Takes such immediate protective measures as are desirable prior to appointment as executor.  Make Sure the insurance is in place for both real and personal property, Secures knowledge of own going business interests, Examines all files related to the Estate, and Gives notice of Death to all banks, safe deposits, and others.
  • PETITIONS THE COURT FOR PROBATE OF THE WILL- Obtains proof of heirship; locates witnesses; through attorney for estate,        petitions for probate of Will and, from time to time, applies for all necessary court order in administration of estate; an appointment as executor , files oath of office. order in administration of estate; an appointment files oath of office.
  • ASSEMBLIES AND INVENTORIES ALL OF THE ASSETS- Takes proper steps to collect life insurance policies, tax waivers, and collects all cash; Inspects condition, leases, taxes and mortgages of real estate, and arranges for management; Inventories and appraises household goods and effects, removing valuables to a secure location
  • PROCURES APPRAISAL OF ALL OF YOUR ASSETS- Gathers the value of the assets or real and personal property
  • ADMINISTERS YOUR ESTATE- Governed by the wishes expressed in your Will, the requirements of your estate, and the local probate law.
  • MAKES ALL THE TAX RETURNS- If any taxes are do, they take care of paying taxes, pays for inheritance tax, and estate taxes.  Sometimes working with your CPA or a Tax Attorney is in order
  • SETTLES ALL PROPER CLAIMS-Publishes notice to creditors; obtains all available evidence regarding propriety of each claim filed, resists all improper claims; pays out of estate funds all approved and allowed claims.  The Executive also pays both State Inheritance and Federal Estate Tax.
  • DISTRIBUTES THE PROBATE ESTATE-Prepares data for final account showing in detail all receipts and disbursements; notifies interested persons of hearing on account, after settlement of account by court, distributes remaining property of your estate as directed by court.
  • OBTAINS FINAL DISCHARGE- And last but not least, after the final payment and distribution to legatees and devisees, and secures final discharge as an executor.

As always, when it comes to Probate related questions or concerns, it is always best to speak with an Estate Attorney, Tax Attorney, and a Certified CPA that has experience in Probate.  When you have Real Property in a Probate situation, it is best to contact a (CPRES) Certified Probate Real Estate Specialist like myself to help prepare the home for sale to get top dollar.

If you are an Executor or have a home that is in the process of going through Probate, feel free to call me for a home anaylsis of the value. Feel free to reach me at Lydia@ArizonaPowerAgent.com or call me at 602.363.1720.  Or fill out the form below.

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When you need help with your real property during probate, contact Lydia Wietsma Probate Real Estate Specialist

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