When you find yourself as an Executor of an Estate, what are your duties and what do you with property?
Being an executor of someone’s estate is not an easy or simple task. Many times your duties far outweigh the original intention.When the person to whom you have been entrusted with an estate dies, there are many loose ends that may need tying up and you must be ready for that task. The biggest responsibility is that you be honest and conduct the estate with integrity to fully respect and honor the deceased individual.
While there may be a pile of paperwork and duties to perform as an executor of an estate, handling them alone is not your only option. There are many probate Realtors that help with property, paperwork and tasks along the way. As the executor of the estate you will need to make sure taxes are paid, debts are satisfied and any will is properly addressed and carried out.
If there is not enough money to pay any debts or taxes, you are not personally responsible for them but you may need to sell the deceased’s personal property and real estate to pay for these debts. A Probate Realtor will help you determine in court proceedings the validity of the deceased person’s will, identifying the property, distributing necessary personal property and selling any real estate. Not having the correct paperwork at the right time can cost money and valuable time on your behalf. Using a Probate Realtor will ensure you have the right documents for the speedy completion of the details.
Some documents to get in hand when dealing with court proceedings:
- Last Will and Testament
- Records of income, bank statements and expenses
- Lists of assets and liabilities
- Medical bills
- Debts or loan documents of outstanding debt
- Statements and accounts for investments
- Deeds and titles to real estate or personal property
A probate Realtor will help you gather all the necessary paperwork and help you negotiate with the Probate court on the best way to dispose of the property or assets. You will also need to take care of any taxes now and outstanding or carried over. Your Probate Realtor will help organize this as well. You don’t want to get stuck signing documents you don’t understand. Because there are many legal details having someone that knows and understands the proceedings will help guide you through this sometimes messy situation. Read more about what to do when a relative dies….
Your California Probate Specialist
Please contact me anytime for a confidential consultation. When the time comes to deal with a family estate, trust the details to a professional Probate Realtor in Orange County. As an Irvine Realtor it is my job to make sure you are well taken care of and informed about every step of the home selling process. Let me show you how to get started on your journey. Start your Irvine Property Search here to see what is being sold at what price and contact me anytime for a Comparative Market Analysis of your property at Deepak@housesinsocal.com or call 949-748-9834 and we will get you put on the right track to get your home sold at the best price in a timely manner. Post Originated here: http://housesinsocal.com/what-does-an-executor-of-an-estate-do/