Managing someone’s estate is a difficult and time-consuming task. The executor of the estate is the person appointed in the decedent’s will who is in charge of administering the estate of a deceased individual. The executor is responsible for overseeing the will, distributing assets, and moving the estate through probate. This individual is known as the personal representative in Florida, but the duties are the same. Fortunately, personal representatives can seek guidance and advice from The Millman Law Group’s seasoned experts. The Millman Law Group was founded by Aaron D. Millman, Esq., CPA, to provide high-quality estate planning and legal services. We understand that each estate is unique. Therefore, we work hard to ensure every client succeeds as an executor. If you have been chosen as the executor of an estate in Deerfield Beach, FL, contact The Millman Law Group for help with your responsibilities.
Executor of Estate: Responsibilities and Duties
The executor of an estate in Deerfield Beach is expected to carry out the stipulations of a will. This means they handle the deceased’s assets and move the estate through probate. A personal representative is named in the will and has the option to decline the post. However, once the position is accepted, the executor is legally bound to carry out the contents of the will. An executor is responsible for numerous things, including the following fundamental duties:
- Guiding the estate through probate
- Distributing assets to beneficiaries
- Filing the will
- Creating a bank account to pay for probate costs
- Managing estate taxes
- Notifying guardians, beneficiaries, relatives, banks, creditors, the SSA, Medicare, USPS, and the Dept. of Veterans Affairs of the will
The Advantages of Working Alongside an Estate Planning Lawyer
In order to carry out their duties, an executor of an estate in Deerfield Beach must consult with an estate planning attorney. Your lawyer will assist you in managing your duties and avoiding costly mistakes. Your attorney is available to guide you through the process’s technical and administrative phases and assist you with tax filings. Aside from saving you time and money, your attorney can:
- Draft legal documents
- Suggest experts when needed.
- File the executors’ reports with the court.
- Keep the executor informed of deadlines and requirements.
- Ensure the estate is closed correctly, assets are distributed, debts are paid, and tax returns are filed.
- Provide advice on tax consequences.
- Determine necessary tax returns.
Contact The Millman Law Group to set up a free first consultation and see whether we are the right lawyers for you. Call us now to learn more about becoming a successful executor of an estate in Deerfield Beach.
Are You an Executor of Estate in Deerfield Beach, FL? 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.