What to Expect at the Start of Probate: Your Role as Executor of the Estate
Estate administration also referred to as “probate”, can be an intimidating process for those who are unfamiliar with its intricacies. The start of probate in Pennsylvania involves a few key steps to ensure the executor named in a decedent’s will is able to act on behalf of the estate to perform their duties. Familiarizing yourself with the probate process before it starts can help to ease some lingering anxieties and prepare yourself for the road ahead.
Who is the Executor of the Estate?
The executor of the estate is an individual appointed in a will to administer the estate of a deceased individual. The executor, in short, is to manage the decedent’s final affairs throughout the estate administration process and eventually transfer assets to beneficiaries, as stated in the will.
Checklist of Duties of the Executor of the Estate
Probate is a long process, and therefore the executor has several key duties to fulfill before the estate can be closed. Below is a general checklist of responsibilities of the executor of the estate:
- Notify heirs and other relevant parties, such as creditors, of the individual’s passing.
- Secure the decedent’s assets, including personal property, vehicle(s), and other valuable possessions.
- Create a list of assets and their values.
- Set up an estate bank account.
- Pay debts owed by the decedent.
- File the decedent’s final income tax return.
- Distribute assets to beneficiaries, as outlined in the will.
- Prepare final accounting.
- Close the estate.
Although the process seems fairly straightforward, it is not uncommon to encounter delays along the way. This is why it is recommended that estate executors work closely with a seasoned probate attorney, who can ensure the process is completed efficiently and accurately. At Antanavage Farbiarz, our family is here for your family. Our experienced team is here to assist with beginning the probate process, preparing the inheritance tax return, and guiding you through the entire probate process. Interested in scheduling a consultation? Contact our office at (610) 562-2000 to make an appointment today, or click here.
The compassionate team at Antanavage Farbiarz is here to help. Reach out today to learn how our seasoned attorneys can assist you in creating the right trust for your unique situation. Our family is here for your family – give us a call at (610) 562-2000 or click here to schedule a consultation.
Stay up to date with the latest tips from Antanavage Farbiarz, PLLC by following us on Facebook and LinkedIn.