Checklist for Executor of Will: 12 Crucial Tasks You Can’t Afford to Miss When Managing an Estate
When Alexandra came to my office, she was still holding the envelope from her late father’s attorney. She already knew that eventually, this day would come, and as an only child, she had been named executor of will.
She was still grieving and now she needs to figure out a responsibility she didn’t fully understand. So I told her, your story is not unique. A lot of people, who are in the middle of mourning, are suddenly tasked with managing a loved one’s final affairs. It is an honor to be the one who is entrusted to be the executor of the estate but it can also feel overwhelming and a bit confusing.
What Is an Executor of Will?
The person who is legally appointed to administer a deceased person’s estate is called an executor of a will. To make it simple, they’re the ones who are responsible for carrying out the instructions that are stated in the will, they also need to make sure that the debts are paid, and ensure that all the assets are distributed to the rightful heirs.
Who Typically Serves as Executor?
- A spouse or adult child
- A trusted friend
- A professional such as an attorney or financial advisor
Executor vs. Personal Representative vs. Administrator
- Executor: Named in the will to manage the estate
- Personal Representative: A broader legal term often used interchangeably with executor
- Administrator: Appointed by the court when there’s no will, or no executor named
The executor’s job will be far easier if there is a valid will presence. It can provide clear instructions, and without one, state laws (intestacy laws) will dictate how the assets will be distributed.
Why a Checklist Matters
If you accept the role of executor without any knowledge or information of what it means can be frustrating, time-consuming, and can be prone to mistakes.
The Risks of Missing Steps
- There will be legal penalties if you fail to file documents on time.
- There will be personal liability for unpaid taxes or debts
- There can be family disputes if there are unclear or any mishandled assets
The Benefits of Staying Organized
- The probate process will be smoother
- This can reduce stress during a difficult time
- You can guarantee a clear communication with heirs and minimize conflicts
Pre-Checklist Prep: Before You Take Action
Before diving into the 12 main tasks, a few immediate steps should be taken:
- Obtain Multiple Copies of the Death Certificate
You’re going to need these for banks, insurance companies, and government agencies. If you can, request at least 10 copies from the funeral home or vital records office. - Locate and Read the Will
This will set the foundation for all decisions. Confirm you have the most recent version. - Identify the Co-Executors or the Legal Counsel
If the case is you’re not the only executor, you have to coordinate roles. You can consider hiring an estate attorney if the estate is complex. - Secure the Property and Assets
Ensure that you lock the home, safeguard your valuables, and notify the insurers. To prevent loss and damage you must protect your assets immediately.
12 Crucial Tasks for Executors
Now that the groundwork is laid, let’s walk through the 12 essential tasks every executor must complete.
- File the Will With the Probate Court
Submit the original will to the probate court in the county where the deceased lived.
The deadlines will vary by state, but many will require filing it within 30 days.
Probate officially grants you the authority to act as executor. - Notify the Beneficiaries and the Interested Parties
Send the formal notices to heirs, beneficiaries, and creditors. Keep copies of all the communications for the court. Maintaining a professional, empathetic tone will help reduce confusion or conflict. - Set Up an Estate Bank Account
Open a dedicated account where you will manage the incoming funds (like insurance payouts) and outgoing payments (like debts).
This will prevent mixing the personal and the estate finances, which can create legal issues. - Inventory All the Assets and the Liabilities
Create a detailed list of everything the deceased owned and owed.
Include:
– Real estate
– Bank accounts
– Investments
– Vehicles
– Personal belongings
– Digital assets (email, social media, cryptocurrency)
– Outstanding debts or loans - Appraise All theProperty and Valuables
Professional appraisals may be required for all real estate, jewelry, or collectibles.
Accurate valuations are essential for taxes and fair distribution. - Pay the Debts and the Final Bills
Prioritize obligations such as:
– Funeral expenses
– Mortgages
– Credit cards
– Medical bills
– TaxesBe cautious because not all debts are equal in priority. You can consult state law or an attorney.
- Go Ahead and Cancel All the Subscriptions and Accounts
You should shut down the utilities, all streaming services, memberships, and online accounts.
It can help if you create a cancellation checklist to ensure nothing will be overlooked. - File the Final Tax Returns
File the deceased’s final personal income tax return (Form 1040).
File an estate income tax return (Form 1041) if the estate earns income during probate.
Don’t forget state returns, if applicable. - Distribute the Assets to Beneficiaries
As directed by the will, transfer all property, funds, or any personal items.
Obtain any signed receipts or release forms from beneficiaries to document compliance. - Communicate With the Heirs Regularly
Always keep the heirs updated about the timeline, decisions, and delays.
Transparency always helps prevent future misunderstandings and family disputes. - Keep Detailed Records for the Court and Beneficiaries
Maintain a ledger of all transactions, including receipts and bank statements.
The courts and beneficiaries may request a full accounting at any time. - Close the Estate
You should submit a final accounting to the probate court.
Once it’s approved, you’ll receive a court order officially closing the estate.
Only then can you fully step away from the executor duties.
When You Should Hire an Estate Attorney
Not every estate will require professional help, but there are certain situations that make legal guidance invaluable:
- Complex Estates: These are multiple properties, any large investments, or business ownership
- Real Estate or Business Holdings: Transferring ownership or selling assets can be legally intricate
- Disputes Among Heirs: An attorney can mediate and prevent costly litigation
- Multi-State Assets: Different states have different probate laws, and navigating them can be overwhelming
If you hire an experienced estate attorney, you can save you time, reduce stress, and protect yourself from personal liability. Think of it as an investment that can give you peace of mind.
Final Thoughts
If you are given the honor of being named as the executor of a will you have to remember that it’s not just a challenging role you may ever take on but also the most important role given to you. You’re not just handling your loved ones’ legal and financial matters, you are carrying out their final wishes and unfinished business. This is a responsibility that might require a lot of patience, organization, and compassion.
