What are the duties of an Executor?
If a person dies with a will, there is usually a person named in the will who is called an executor. The Executor conducts the administration of the estate. An executor must exercise the highest duty of good faith and candor in carrying out the following tasks: • Caring for all property of the decedent. • Receiving payments due the estate. • Collecting all debts due the estate. • Determine the names, ages, residences, and degree of relationship of all Heirs. • Investigating the validity of all claims made against the estate. These actions require the preparation and filing of numerous legal documents, the publication of notices, hearings in court, an appraisal of the assets of the estate, an inventory of the assets, an accounting of fund, final transfer of all assets to heirs, and termination of probate proceedings. Because of the complexity of these proceedings, the assistance of an attorney is usually necessary.
