An executor is responsible for managing the administration of a deceased person’s estate, ensuring the wishes outlined in their planning documents — such as a will — are carried out. As an executor, you have many responsibilities. Here is an overview of the tasks you will be expected to handle as part of the estate administration process.

What Does an Executor Do?

1. Gathers Documents and Information

If you have been named the personal representative, executor, or administrator of a person's estate, your job is to locate the original Last Will (if any), identify the beneficiaries in the will and heirs who would take without the will, and start cataloging (inventorying) the assets of the estate. Ideally, the deceased should have left behind a list of their assets. If not, it's up to you to compile a list of their possessions, including properties, cars, and retirement accounts.

2. Opens the Estate and Notifies Interested Parties.

After gathering the information you can, you next go to the local court to open the estate, providing all the information you gathered in the first step. The court’s role is to resolve any disputes about the administration of the estate, and opening the estate alerts the court to their role.

3. Informs Interested Parties

Any beneficiaries of the estate need to be notified as soon as possible. You must also contact creditors and banks of the individual's passing. State law requires that creditors be notified of death when debts are due, giving them a chance to claim the money they’re owed.

4. Facilitates Transfer of Assets

Once any debts and taxes are paid, beneficiaries can receive the inheritances they’re due. You must oversee the transfer of assets as part of the estate administration process. This could involve ensuring that bank accounts are paid out and signing deeds to transfer real estate.

For assistance with estate administration in Chattanooga, TN, trust the professionals at Trailhead Estate Planning. Attorney Peter Harrison provides comprehensive estate planning services to help families create strategies suited to their unique needs. Visit the lawyer’s website for a list of his practice areas, or call (423) 228-7029 to schedule an appointment.