Your best friend has recently asked you to fill the role of estate executor after he or she dies. You want to help and are committed to the role, but you are also a little afraid of the responsibility.
In a best-case scenario, friends who ask others to become their estate executor (which is also called an estate administrator) make sure they have a good grasp of what this means. They should talk with you in-depth about the tasks you must perform and introduce you to their probate and estate administration lawyer.
What do Mississippi estate executors do?
Sometimes executors enter these situations without proper preparation and then become overwhelmed by the magnitude of their responsibilities. A good rule of thumb for newly appointed executors is to ask questions and research the role. If you have already accepted this role and feel overwhelmed, learning more can also help. Below is a brief list of some of the tasks you must complete as your loved one’s executor:
- Locate and preserve the deceased’s assets.
- Locate and contact all beneficiaries named in the will.
- File the deceased’s will with the proper probate court.
- Pay debts and taxes out of the estate’s assets.
- Open a separate bank account for the assets to avoid mixing them with your funds.
- Continue paying mortgages and other recurring bills until the estate administration process ends.
- Distribute assets to the named beneficiaries per the deceased’s wishes.
One thing many Flowood, Mississippi estate executors fail to understand is that you can get help fulfilling your obligations. Whether you work with the decedent’s attorney or engage one of your choosing, legal guidance can make your administration duties simpler.