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Understanding the role of the executor of a will

understanding the role of the.jpgHave you been asked to be the executor of someone's will? This is an important job to have no matter your relationship with the person who made the request. Also know that you have the ability to deny the request. If you want to say yes to the request and take on this role, you need to understand the role of the executor of a will in Florida.

The executor will be responsible for acquiring the most recent copy of the will and then conducting the will reading for the family and friends of the deceased. The next step is to file a petition with the court to send the will through probate.

You will then be required to collect the assets of the decedent, including the items held in a safe deposit box if they had one. You need all of these items in your possession for distribution to beneficiaries as described in the will.

You will be responsible for handling all claims made against the decedent's estate. This includes claims made by creditors for the debt of the decedent. You might need to liquidate assets to pay any outstanding debt, which means you will be required to have items appraised.

It's also your responsibility to file the income tax returns for the estate and for the decedent. You must also file the federal estate tax return and the state death return on behalf of the estate and the decedent.

Now that you have an understanding for how important of a role the executor of a will is, you can prepare ahead of time in Fort Myers. Make sure you ask questions when necessary so you don't make the wrong decisions.

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