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