Managing a person’s estate is a complicated and time-consuming responsibility. The person responsible for managing a deceased individual’s estate is known as the executor of the estate and is named in the decedent’s will. This role requires the executor to oversee the will, distribute assets, and guide the estate through probate. In Florida, this person is the personal representative, but the responsibilities are the same. Fortunately, personal representatives can access the expert guidance they need from the experienced staff at The Millman Law Group. Aaron D. Millman, Esq., CPA, established The Millman Law Group to provide high-quality estate planning and legal services. We know each estate is unique, so we work hard to ensure every client excels as an executor. If you are named executor of an estate in West Palm Beach, FL, contact The Millman Law Group for assistance in managing your duties.
The Responsibilities of Executors of Estates
The executor of an estate in West Palm Beach is expected to carry out the terms of a will. This means they guide the estate through probate and handle the deceased’s assets. A personal representative is identified in the will and can refuse this role. However, once the position is accepted, the executor must legally follow the terms outlined in the will. An executor has many responsibilities, including the essential duties listed below:
- Filing the will
- Guiding the estate through probate
- Distributing assets to beneficiaries
- Locating and managing estate taxes
- Opening a bank account to pay for probate expenses
- Notifying beneficiaries, relatives, guardians, creditors, banks, the SSA, Medicare, USPS, and the Department of Veterans Affairs of the will
The Advantages of Working with an Estate Planning Attorney
An executor of estate in West Palm Beach must work with an estate planning attorney as they perform their role. Your lawyer will help you manage your responsibilities and avoid significant errors. Your attorney is here to help you navigate the technical and procedural steps of the process and advise you on tax filings. In addition to saving you valuable time and money, your attorney can:
- File the executors’ reports with the court.
- Draft legal documents
- Suggest experts when needed.
- Provide advice on tax consequences.
- Determine what tax returns are necessary.
- 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.
Contact The Millman Law Group to schedule a free initial consultation and decide whether we are the best attorneys for you. Call us today to learn more about how you can be an effective executor of estate in West Palm Beach.
Are You an Executor of Estate in West Palm 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.