When someone passes, their estate will likely have to go through probate, a potentially long and complex legal process. During this time, the representative of the decedent’s estate will settle debts and other affairs, resolve any legal issues, and distribute the assets to the beneficiaries named in the will. If you’ve been nominated as the representative of a loved one’s estate, here’s more detail about what you’ll need to do.
3 Tasks Will Executors Handle During Probate
1. Notify Creditors
As soon as they’re formally appointed by the court, the representative of the estate must notify all known creditors and anyone named of the will of the decedent’s passing. They must also post a notice in a local newspaper, which gives other creditors a chance to come forward.
2. Pay Debts & Inventory Assets
The decedent’s creditors take priority in probate proceedings, so the representative will have to pay off any outstanding debts first. If the estate doesn’t have enough cash on hand, they may have to sell some assets to satisfy those debts. In the meantime, the representative must complete a thorough inventory of the estate, which should be submitted to the court.
3. Distribute Assets
After the decedent’s accounts are closed and their debts are paid, the representative may begin distributing assets to the beneficiaries named in the will. Every situation is different, so probate may take anywhere from a few months to several years to complete.
If you’ve been nominated as the representative of a loved one’s estate, contact the attorneys at Ng & Niebling in Honolulu, HI. These professionals have provided detailed, effective legal advice to families across Oahu for over 40 years, and they pride themselves on making probate as easy and stress-free as possible. To get more information about their services, visit the website or call (808) 732-7788.