Personal Injury Lawyer
To be appointed the executor of someone’s will is a huge responsibility. You are in charge of disbursing your loved one’s assets and property to their beneficiaries. This is a powerful position where you must take on a lot of different roles. If you are unprepared for it, it can turn into a mess when you reach probate court. Having a lawyer by your side can alleviate your concerns and some of your duties. Here is what you need to know about executing a will.
Call an Attorney
If you are appointed the executor of a will, you should contact an attorney. While you can technically do it on your own, it can help to have someone with experience to ensure that you can go through the process without trouble. After all, probate court can be complex, long, and expensive. Lawyers help ease some of the stress so that you don’t get held up during the process.
Gather Appropriate Documents
To execute the will, you need to gather all account numbers, documents, and financial information regarding the estate. Not only will you need any vehicle registrations, titles, and deeds to the estate, but you will also need credit card statements, W-2 forms, and other important documents. If you hire a lawyer, he or she can help walk you through all of the documents that you are going to need.
Consolidate the Bank Accounts
When it comes to your loved one’s debts, you do have to pay those off. This is why inventory is important. In addition, you can consolidate all of the bank accounts. You may even want to open up a bank account for debts. You can move the funds from this bank account to the accounts used to pay off of the debts.
Take Inventory of Property
It is up to you to figure out where everything is in regards to the estate. Most states give you approximately 90 days to completely inventory the estate. You may want to seek appraisals to find out how much the estate is worth.
If you’ve been appointed to be the executor of your loved one’s will, it helps to hire a lawyer. If you have limited experience with the legal system or probate court, it can be an overwhelming experience. When you hire a lawyer, you have someone who can help ensure that you have all the necessary documents. Consult with an estate planning lawyer, like an estate planning lawyer today.