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Understanding the role of estate executor

Individuals who are tapped to be the executor of a parent's estate are tasked with fulfilling his or her final wishes. Therefore, those who live in New York and elsewhere around the country may be wondering how and when they fulfill their obligations. An executor is responsible for paying the final expenses of the deceased as well as maintaining property until the estate is settled.

When someone is named the executor of a parent's estate, it is crucial that he or she communicates with mom or dad to confirm his or her wishes. This may make it easier for the family to be on the same page and prevent infighting when the parent does pass on. After his or her mother or father passes on, the executor will need to gather the will and other relevant estate documents.

An executor will also have to determine if the estate must go through the probate process. If assets were placed in a trust, this procedure may not be necessary. However, if they weren't, the will may need to get verified by a court. This may take months or years depending on the complexity of the estate or if any issues raised are raised. Creditors and all other potential interested parties may need to be alerted to the death and sent a death certificate.

Estate planning can make it easier for people to control where their assets will go after they pass on. Therefore, it may be advisable for an individual to create a will or trust that outlines his or her wishes and how to follow them. An attorney may review such documents to ensure that they abide by state law. Lawyers may also be able to help their clients create legally binding estate plan documents.

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