Managing an estate can be complicated and time-consuming, and especially so for the executor of an estate. An executor is a person named in the will who is tasked with managing the deceased’s affairs, protecting all assets, and guiding the estate through probate. In Florida, this person is more commonly known as a personal representative, but the responsibilities are the same. Personal representatives can be helped by the estate planning and administration experts at The Millman Law Group. Founded in 2018 by Aaron D. Millman, Esq., CPA, The Millman Law Group always provides patient and knowledgeable services. We understand how the details of an estate can differ, so we always work carefully to help our clients understand their role as executors. If you are an executor of estate in Boca Raton, contact The Millman Law Group today to discover how we can help you manage the deceased’s estate effectively.
The Duties of an Executor of Estate
The executor of estate in Boca Raton is responsible for carrying out the terms of a last will and testament. This includes many tasks that are essential for guiding an estate through probate and caring for all assets left behind by the decedent. An executor, or personal representative, is named in a will and can turn down the position, although once a person becomes an executor, they will have a legal duty to follow the terms of the will. An executor has many responsibilities, including:
- Filing the will
- Guiding the estate through probate
- Notifying necessary parties including the beneficiaries of the will, family and blood relatives, guardians, insurance companies, banks and credit unions, creditors who have a claim, the Social Security Administration, Department of Veterans Affairs, Medicare, and the USPS
- Opening an estate bank account to pay for daily expenses related to probate
- Finding and manage assets
- Paying debts and taxes, potentially filing an income tax return for the decedent, or preparing an estate tax return
- Distributing assets to beneficiaries
The Benefits of Working With an Estate Lawyer
In most cases, the executor of estate in Boca Raton must work with an estate lawyer to administer and close out the estate. This helps the personal representative avoid managing all of the responsibilities alone. The estate attorney can provide guidance in the technical and procedural aspects of the process, advise the executor on which tax filings are needed, and help ensure that all duties are fulfilled. In addition to saving you time and worry, your lawyer can:
- Draft necessary legal documents
- Advise to which tax returns are required
- Keep the executor informed of all deadlines and requirements.
- Ensure that inventories and reports to the court are in proper form
- Suggest experts when necessary
- Advise on tax consequences and other costs associated with methods of distribution
- File the executor’s reports with the court
- Ensure that the estate is closed correctly when all debts are paid, tax returns filed, and assets distributed.
At The Millman Law Group, we strive to give everyone the option of hiring a professional for help and offer free consultations to help you determine whether our services make sense for your situation. Contact us today to learn more about the duties of an executor of estate in Boca Raton.
Executor of Estate in Boca Raton? Contact The Millman Law Group For Assistance
Millman Law Group, PLLC is one of the only law firms that offers life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team specializes in special needs trusts and catering to any age demographic because we know that it’s never too early to start preparing for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, LinkedIn, and Pinterest. You can also contact us at 561-463-6480.