Understanding The Responsibilities Of Executors
Have you been named the executor for a will or estate? Are you completely lost regarding your responsibilities? Being named an executor is an honor, but it also comes with legal duties that must be taken seriously — an executor can be held personally liable if he or she mismanages an estate’s assets.
Below is a list of an executor’s responsibilities. It is not a comprehensive list but it should give you direction. If you need help with the administration of probate or an estate, I am attorney William J. Benz of Southampton, Pennsylvania. I have more than three decades of experience in the administration of probate and estates. Call me at 215-436-9910 or contact me online.
1. Find and manage the deceased’s assets
2. Determine if the last will and testament needs to be probated
3. Find and contact the individuals and parties who are supposed to receive money or property from the estate
4. Wrap up the deceased’s affairs (this can include contacting banks, canceling credit cards and notifying the Social Security Administration)
5. Open a bank account for the estate
6. Continue necessary payments such as a mortgage
7. Pay off creditors
8. Pay final income taxes
9. Distribute your loved one’s property
Do You Have Concerns About An Executor?
Whether it is due to negligence, incompetence or greed, problems can arise when executors attempt to carry out their responsibilities. If you are worried about how your loved one’s estate is being managed, William J. Benz, Attorney at Law can help. I have served clients in Bucks County since 1990, and I am well-versed in handling sensitive estate matters.
How To Contact Me
Are you an executor who needs help? Are you a family member who is being cheated by an executor? Schedule an appointment with William J. Benz, Attorney at Law in Southampton, Pennsylvania. Call me at 215-436-9910 or contact me online.