If you agreed to be the executor of someone’s estate you may be wondering how to carry out your duties in California. Executors have multiple duties, some of them quite challenging. This guide will help you understand your responsibilities.
Locate the will
The first step is to locate the person’s will. Ideally, they have already told you where it is located, but if not, then check with their financial institution and their lawyer. You must do this quickly because people often leave funeral directions in their will.
Identify estate assets
Part of estate administration is probate court. If the person owned property in another state, a case might have to be opened in that state too. Then, all the estate’s assets must be located along with their titles.
Pay estate claims
The executor must also contact anyone to whom the passed loved one owed money and validate their claim to be paid. Then, see that they get money owed to them if there are any assets in the estate. If the one who passed was on Social Security, you would need to notify them too.
Pass out assets
Once the liabilities are covered, the executor must locate and distribute the estate’s assets as directed in the will. They will also need to keep careful financial records of all assets and do whatever they can to maintain the value of all assets.
The executor of a person’s will is responsible for carrying out their wishes, including decisions about funeral and memorial services, payment of debts, and the distribution of assets to heirs.