While you and your family are grieving the loss of your parent or another beloved relative, you might also have to begin your duties as executor of the estate. While it’s an honor knowing the deceased entrusted you with this task, you may be going in with no experience being an executor. You don’t want to make a costly mistake.
If this describes your situation or you know you will be the executor for a relative’s estate someday, here is a brief overview of the powers and responsibilities an executor has in Florida.
What an executor does
The executor’s job is to assemble all of the deceased’s assets, file all the necessary documents in probate court, pay off the estate’s creditors and distribute the remaining assets to the heirs as specified in the will. This typically begins with gathering documents like bank statements and title records to prove what the deceased owned at the time of their death.
Once you know everything the deceased owned, you must get accurate valuations of each asset and begin preserving them. This can involve making sure the mortgage payments are taken care of, filing insurance claims, and paying taxes. Meanwhile, you must submit the deceased’s valid will to the probate court. More personal duties may include notifying the deceased’s friends and family of their death and making funeral arrangements.
Another thing you should know about being an executor is that you can work with an attorney who practices estate administration law. Being advised by a lawyer can help you stay organized and get through the job as efficiently as possible.