Not all estates are alike and thus can create different responsibilities for an Executor or Administrator. Once the Executor or Administrator has been appointed by the Probate Court, here are a few examples of some of the main responsibilities they can expect: determine if there are any assets in the deceased’s sole name that need to be probated; identify, gather and inventory the assets of the deceased; receive payments owed to the estate, including interest, dividends, and other income; set up an estate checking account from which outstanding debts will be paid and income to the estate will be received; investigate the validity of all claims against the estate; pay funeral bills, outstanding debts, and valid claims; pay the expenses of administrating the estate; handle various paperwork, such as discontinuing utilities and charge cards, and notifying Social Security, Civil Service, and Veterans Administration of the death; file and pay income and estate taxes; sell real estate and personal property owned by the deceased, liquidate any accounts owned by the deceased. This can all be quite convoluted and cumbersome. However, by utilizing the services of an experienced firm such as Stone Legal Group, PLLC you can be properly guided and assisted through this daunting and lengthy process.
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