Responsibilities Of An Executor Or Administrator
Put simply, it’s not easy being the executor or administrator. The law places many duties and responsibilities on these individuals. Instead of attempting to handle the process alone, our team of attorneys at Teiger Law Center, P.C., can help you understand the law, your role and guide you through your responsibilities, including acting in the best interests of the estate.
Let Our Lawyers Help You Carry Out Your Responsibilities
When you reach out to us, we can provide you with the information and resources necessary to move through the probate process as quickly, efficiently and cost-effectively as possible. There’s no questioning that probate matters often come with a degree of uncertainty as family and other interested parties may react negatively to the actions of the administrator or executor. It’s important that we work together to avoid accusations of a breach of fiduciary duty, which can carry serious consequences.
By advising your decisions, we can avoid complications and ensure you protect yourself and the estate at each step. Some of your responsibilities include:
- Filing for letters of administration or letters of testamentary
- Securing the death certificate and other necessary legal documents
- Filing the original will and other necessary documents with the probate court
- Tracking down heirs, beneficiaries and other interested parties
- Filing tax documents, including federal, state and local income taxes
- Filing federal and state estate taxes
- Notifying debtors and creditors
- Opening and maintaining checking and saving accounts on behalf of the estate
- Obtaining and reviewing important documents such as property deeds, income tax returns, government benefits, employment benefits and pension information, etc.
- Creating an inventory of the estate’s property and assets
- Maintaining a clear record of expenses, income and payments made from the estate
- Paying debts, bills and otherwise managing the estate’s assets
- Working with appraisers to determine the value of property such as real estate, business interests, cars and other valuables
- Managing insurance issues, including home insurance, offices or rental properties
- Selling assets with the approval of the probate court when paying debts against the estate
Contact Us To Discuss Your Role As An Executor Or Administrator
We want to help you understand and uphold your responsibilities. Call our Alpharetta or Cumming, Georgia, law offices at 800-780-2275 or 866-726-2153. We are also responsive to your email inquiries when you complete our online contact form. We serve clients throughout the Atlanta metro in a variety of estate planning matters.