Business & Finance Credit

Checklist for the Executor of a Will

    Information

    • The first duty of the executor of the will is to inform relevant parties of the death. He will obtain a death certificate after registering the passing with the local authorities. He will inform family members of the death and his status as executor. The will may include documentation listing contact details for heirs, but the executor may be required to place advertisements and newspaper notices to track down heirs.

    Legal

    • The executor must be conferred legal status as the executor of the will. He will apply for probate, the legal process that confirms his status as executor, as detailed in the will of the deceased. The executor must provide the probate panel with copies of the death certificate and will, which they will assess for legality. Any party that disputes the nomination can air their views at the probate meeting. However, if the individual is named in the will, probate is likely to be granted, regardless of disputes.

    Inventory

    • Having been granted probate, the executor must catalog the estate of the deceased and gain possession of certain personal affairs. The executor will access and inventory all records of investments, bank accounts, insurance policies, property, shares, pensions and other assets. He should also catalog tax documentation, as the estate may be liable for a rebate, depending upon the timing of the death. The executor should also gain possession of the deceased's wallet or handbag, passport and birth certificate, as well as the keys or codes that give access to their properties.

    Distribution

    • Having made as full an inventory of the estate as possible, the executor must distribute it according to the will. This must be done after death taxes and solicitor's fees have been paid, as well as any debts owed by the deceased. The executor is granted the right to sell assets of the estate, if required to service a debt. The executor ensures that any legal paperwork related to the distribution of the estate--changing names on property deeds, for example--is completed.

    Funeral

    • The executor will also ensure that the wishes of the deceased, as directed in the will, are carried out with regard to her funeral. He will ensure she is buried or cremated as desired and that any requests made in the will for the service are honored. He will also assist in informing friends and family of the deceased about the funeral arrangements.

    Recording

    • As well as cataloging the assets that comprise the estate of the deceased, the executor must maintain rigorous, comprehensive records throughout the process of execution. This prevents duplication of debts paid, ensures that all required transactions have been effected and protects the executor from any accusations by making all his actions demonstrable.



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