Managing an estate is a complex and time-consuming responsibility. The executor of an estate especially feels this responsibility. An executor is chosen in the will and must oversee the deceased’s affairs, protect their assets, and guide the estate through probate. This person is called the personal representative in Florida, but the responsibilities are equal. Personal representatives can be helped with their duties by the estate planning experts at The Millman Law Group. Aaron D. Millman, Esq., CPA, established The Millman Law Group to provide the knowledgeable legal services people require. We understand that the details of every estate are different, so we work hard to help our clients understand their responsibilities as executors. If you are listed as an executor of estate in Boynton Beach, contact The Millman Law Group to learn how we can help you manage these tasks.
The Duties of Estate Executors
The executor of estate in Boynton Beach is responsible for carrying out all terms of a will. This means that they will guide an estate through probate and care for all assets left by the decedent. A personal representative is listed in the will and can turn down this job. However, once a person becomes the executor, they 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 beneficiaries of the will, all relatives, guardians, insurance companies, banks and credit unions, creditors, the SSA, Medicare, Department of Veterans Affairs, and the USPS.
- Finding and managing assets
- Paying debts and taxes and potentially filing a tax return for the decedent
- Opening a bank account to pay for expenses related to probate
- Distributing assets to all beneficiaries
The Benefits of Hiring an Estate Lawyer
The executor of estate in Boynton Beach must work with an estate lawyer to close out a decedent’s estate. This partnership helps the personal representative avoid taking on all of these tasks alone. The estate attorney will provide guidance in the technical and procedural aspects of the process. The attorney can also advise the executor on the necessary tax filings and ensure that all duties are fulfilled. In addition to helping you save valuable time and money, your lawyer can:
- Draft necessary legal documents
- Determine what tax returns are needed
- Suggest experts when necessary
- Ensure that reports and inventories are properly filed
- Keep the executor informed of deadlines and requirements.
- File the executors’ reports with the court
- Provide advice on tax consequences and other costs affiliated with methods of distribution
- Ensure that the estate is closed accurately and that all debts are paid, assets distributed, and tax returns filed.
At The Millman Law Group, we offer free consultations to help you determine whether our services can help you in your situation. Contact our offices today to learn more about the role of an executor in Boynton Beach.
Are You an Executor of Estate in Boynton Beach? 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.