Executor of a Will: Understanding the Responsibilities

The executor of a will is a very important person when it comes to estate planning. The executor of a will be required to work with the probate court, they will handle the estate of the deceased person. They will have to provide the probate court with a copy of the will and the death certificate. They are also required to file a petition for probate and attend hearings with the judge in order to prove that the will is valid. 

Pay Debts

The executor of a will is also in charge of making sure that all of the creditors of the deceased get paid. They will have to pay all the bills and taxes that are associated with the estate.

Transfer of Assets

The executor of the will is also in charge of making sure that all of the assets of the deceased get to where they are supposed to go. The executor has to take an inventory and value all of the assets of the estate. They will have to transfer money into a central bank account that is created for the estate. They will then need to transfer the ownership of the assets to the correct beneficiaries according to the will.

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