When drafting essential estate planning documents, you’ll have to name the executor of your will. To choose the best person for the job it’s important to understand what the role demands. Likewise, if you have been named the executor of the estate of a recently deceased relative, it’s essential to familiarize yourself with what it entails. Below, the knowledgeable lawyers at Scott & Heenan LLC in Grant County, WI, offers some guidance on the topic. 

General Duties

An appointed individual’s main goal is to execute the terms of a will. They do this by guiding the estate through probate, which includes inventorying all assets, satisfying applicable debts that are in the deceased’s name, and distributing the remaining property to the beneficiaries according to the decedent’s wishes. An executor does not necessarily need extensive legal experience, as they often rely on guidance from a seasoned estate planning attorney. Typically, anyone over the age of 18 can serve in this role, so many people designate it to their spouse or adult child. 

Specific Obligations

Since everyone’s financial situation is different, so is every probate process. However, there are certain tasks that nearly all executors must perform when settling an estate. For instance, they must locate assets, contact beneficiaries, file the will in court, close all the decedent’s financial accounts, open a bank account for the estate, make all necessary payments while the proceedings are in progress, and pay the final income taxes. 

If you have been appointed to settle someone’s estate, turn to Scott & Heenan LLC for guidance every step of the way. An estate planning attorney from their firm can help you navigate the probate proceedings and ensure you fulfill the deceased’s last wishes. Having served the Grant County community for over half a century, you can trust in their educated advice. Visit their website to browse all the practice areas they specialize in, or call (608) 348-9506 to arrange a consultation with an estate planning attorney today.