When R&B legend Aretha Franklin died, her fans and music lovers around the world were wondering why her funeral was delayed for weeks. Unfortunately, Franklin did not leave a will, and her four sons were left to determine how her assets and property would be allocated. An important component of a will is to have an executor of a will that will help the process run a lot smoother.
What Do I Need to Do If I’m Named an Executor of a Will?
If you have been named the executor of a deceased person’s estate, you will have a few responsibilities that a lot of people are unaware of. First, it’s important to know what an executor is, which is a person named in a will who will carry out the wishes of a deceased person. Responsibilities might include:
- Giving the will to probate
- Protecting the estate’s assets
- Distributing property to beneficiaries and paying off any debts and taxes of the estate
- Examining the trust and will documents
- Using the estate’s funds to pay for burial and funeral expenses
- Handling tasks with the death certificate, such as closing bank accounts, canceling federal benefit payments, and filing the last tax return
- Determining the value of the property (antiques, real estate, art) and liquidating any property
If you are unsure what your full responsibilities as an executor are, you should contact an estate planning attorney in Austin that can answer any questions you have about your duties. Call our law firm at Sheehan Law, PLLC today to request a consultation.