Managing an estate is a challenging and time-consuming responsibility. The executor of an estate is chosen in the will and must oversee the deceased’s will, protect their assets, and guide the estate through probate. In Florida, this person is known as the personal representative, but the responsibilities are the same. Fortunately, personal representatives can receive help from the estate planning experts at The Millman Law Group. Aaron D. Millman, Esq., CPA, founded The Millman Law Group to provide knowledgeable legal services to those planning their estate. We understand that the details of every estate are unique, so we work hard to help our clients understand their role as executors. If you are named an executor of estate in Palm Beach County, contact The Millman Law Group to learn how we can help you manage your duties.
The Responsibilities of Estate Executors
The executor of estate in Palm Beach County is responsible for carrying out the terms of a will. This means that they guide an estate through probate and care for the decedent’s assets. A personal representative is listed in the will and can turn down the job. However, once you accept, you have a legal duty to follow the terms of the will. An executor has many duties, including:
- Filing the will
- Guiding the estate through probate
- Notifying beneficiaries, relatives, guardians, insurance companies, banks and credit unions, creditors, the SSA, Medicare, the USPS, and the Department of Veterans Affairs.
- Locating and managing assets
- Paying debts and taxes, as well as potentially filing a tax return for the decedent
- Opening a bank account to pay for probate expenses
- Distributing assets to all beneficiaries
Why Work With an Estate Lawyer?
An executor of estate in Palm Beach County needs to work with an estate lawyer during this process. This partnership will help the personal representative manage their many responsibilities and avoid making errors. Your estate attorney can provide guidance in the technical and procedural aspects of the process and advise on the necessary tax filings. In addition to helping you save time and money, your lawyer can:
- Determine what tax returns are needed
- Draft necessary legal documents
- Keep the executor informed of deadlines and requirements.
- Suggest experts when necessary
- Provide advice on tax consequences
- File the executors’ reports with the court
- Ensure that the estate is closed and that all debts are paid, tax returns filed, and assets distributed.
At The Millman Law Group, we offer free consultations to help you determine whether we are the right team to help you through this process. Contact our offices today to learn more about being a personal representative in Palm Beach County.
Are You an Executor of Estate in Palm Beach County? 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.