Managing an estate is often a time-consuming and complex responsibility. The person responsible is the executor of the estate, and they are named in the will. Their role requires them to oversee the decedent’s will, distribute assets, and guide the estate through the probate process. In Florida, this person is known as the personal representative, but the responsibilities are the same. Fortunately, personal representatives can receive the guidance they need from the experienced professionals at The Millman Law Group. Aaron D. Millman, Esq., CPA, founded The Millman Law Group to provide high-quality estate planning and legal service. We know that the details of every estate are unique, so we work hard to ensure that every client excels in their role as executor. If you are named executor of estate in Lake Worth, FL, contact The Millman Law Group today for professional help managing those duties.
The Duties of Estate Executors
The executor of estate in Lake Worth is responsible for carrying out the terms of a will. This means they will guide an estate through probate and manage the deceased’s assets. A personal representative is listed in the will and can refuse the role. However, once you accept the position, you have a legal duty to follow the specific terms outlined in the will. An executor has many duties, including:
- Guiding the estate through probate
- Filing the will
- Distributing assets to beneficiaries
- Locating and managing estate assets
- Paying debts and taxes and potentially filing a tax return for the deceased
- Opening a bank account to pay for any probate expenses
- Notifying beneficiaries, relatives, guardians, creditors, banks, the SSA, Medicare, the USPS, and the Department of Veterans Affairs of the will
The Advantage of Working with an Estate Planning Lawyer
An executor of estate in Lake Worth must work with an estate planning lawyer while performing their duties. Your attorney will help you manage all responsibilities and avoid making disastrous errors. Your attorney is here to guide you through the technical and procedural aspects of the process and advise you on any essential tax filing. In addition to saving you time and money, your lawyer can:
- File the executors’ reports with the court
- Draft necessary legal documents
- Provide advice on tax consequences
- Suggest experts when needed
- Determine what tax returns are necessary
- Ensure the estate is closed correctly, assets are distributed, debts are paid, and tax returns are filed.
- Keep the executor informed of requirements and deadlines.
At The Millman Law Group, we can schedule a free initial consultation to help you decide whether we are the right attorneys to help you. Contact us now to learn more about how you can be an effective personal representative in Lake Worth.
Are You an Executor of Estate in Lake Worth, 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.