The Executor's Guide

How to Administer an Estate Under a Will

Linda Kirby

• Publisher: Praeger
• Year: 2004
• Print ISBN: 9780275982034
• eBook ISBN: 9780313052200
• Edition: 1
• Topic: Law
• Subtopic: Law Theory & Practice
• Index: Law

You have been named the executor of a will by a friend or family member. Are you prepared to meet the challenge and do you know how to avoid personal liability? Thousands of individuals each year face the daunting and often painful task of settling the estate of a loved one, and even with professional guidance from attorneys, accountants, and financial advisors, they are often ill-equipped to deal with many of the tasks necessary to manage and settle an estate—and may put themselves at serious financial risk. The Executor's Guide is the definitive instruction manual for anyone administering an estate under a will. Featuring step-by-step instructions, worksheets, checklists, and timetables, The Executor's Guide takes the reader through the entire process-from the time of death to the final closing of the estate. The Executor's Guide explains the full range of roles and responsibilities of the executor, including reading the will, hiring and supervising the attorney, dealing with court proceedings, notifying those who are entitled to property, finding and valuing assets, settling with creditors, filing taxes, and distributing the assets. Unique and highly practical elements include a comprehensive Summary of Assets (from Annuities to Videos), a glossary of essential terms, and a series of key questions to ask your attorney. Written in highly accessible language by an expert in the field, The Executor's Guide is at once authoritative and user-friendly—an essential resource for any family.

Table of contents

• Contents
• Acknowledgments
• Introduction
• 1 Introduction to the Duties of the Executor
• 2 The Will
• 3 Opening Court Proceedings
• 4 Identifying All Interested Persons
• 5 Guardians, Conservators, Custodians, and Trustees
• 6 Inventory and Valuation of Assets
• 7 Management of Assets
• 8 Sale of Assets
• 9 Claims and Demands on Decedent's Estate
• 10 Taxes
• 11 Special Considerations
• 12 Final Settlement, Distribution of Assets, and Discharge of the Executor
• Appendix I. Probate Timetable: Court Proceedings
• Appendix II. Timetable Necessary for All Estates
• Appendix III. Proposed Method for Distribution of Personal and Household Items
• Appendix IV. Worksheets and Forms
• Appendix V. Summary of Assets
• Appendix VI. Questions to Ask Your Attorney
• Glossary
• Index