Is it difficult to be an Administrator/Executor of an Estate?

I get this question a lot and the answer is always "it depends." It depends on the size of the estate, the type of assets that need to go through probate, and how much you really knew about the deceased. I always tell people that they need to treat their duties as the Administrator/Executor of an estate as at least a part time job because there are court mandated deadlines to meet and possibly a considerable amount of work involved.

As an Administrator/Executor, you will be responsible for, at a minimum, the following things:

1. Find the will, if there is one

2. Find out if there are any safety deposit boxes

3. Gather as much information about the assets as possible

4. Take action to protect assets of the estate if there is any risk present to those assets

5. File initial application to qualify as Administrator/Executor

6. Publish and/or send notices to creditors

7. Identify all debts of the decedent and decide whether to pay or reject each claim

8. Open the estate's bank account and keep records of all account activity

9. File state and federal taxes for the deceased

10. File a fiduciary tax return if necessary

11. File 90 day inventory with the Court

12. File the annual accounting with the Court

13. Distribute assets to the estate's beneficiaries and obtain receipts from beneficiaries

14. File the final accounting with the Court and close the estate

This is a very basic list of the duties of an Administrator/Executor. There are many issues that can come up during this process, and it is sometimes helpful to have an attorney help you navigate the process. Please contact us if you have questions about the administration process.