Probate Fees and Duties of Excutor

An executioner is an individual appointed to handle the process of probate for a friend, family member or someone else.  This person has many responsibilities, including distributing the assets or property, probating the will, ensuring that estate taxes are paid and more.  There are a number of steps an executioner must go through to fulfill his or her duties.

Probate Execution Process and Fees

The executioner must first go to probate court so that the will is legally recognized.  While the length of the probate process differs, it typically takes between several months and a year to complete.  Fees will include the filing fees, attorney costs (if applicable), and sometimes there are court costs calculated based on the value of the property or estate.  Parties who may be interested in learning about the case or attending the hearing should be notified by the executioner or the attorney for the estate.

Managing the Estate

The executioner will handle the managing of the estate while the probate court continues.  Managing the estate include several duties, such as:

• Creating a public account of the estates if required by the court.
• Finding the assets and liquidating them.  This may include selling part of the estate, stocks or business.
• Paying taxes and filing tax forms as set forth by law.
• Ensure that taxes are paid and that other debts accumulated by the deceased are paid.
• Filing the last tax return and obtaining the EID for the estate to finish out the tax process.

Fees in this area can differ dramatically depending upon the deceased individual’s estate.  For instance, some executioners can be held liable if the deceased individual’s taxes aren’t paid.  Sometimes, appraisers must be hired to ensure that the estate, belongings and other property are receiving fair market value.

Distributing the Assets

The executioner will need to distribute the assets as requested in the deceased individual’s last will and testament. This may include property, homes, vehicles, personal belongings, money and more.  Often times, because of high emotions, this can be a very stressful part of being an executioner.  However, as long as all is done according to the will, the executioner will be in the right.

Being an executioner of an estate can be difficult, but individuals do it for people they love and people that can no longer speak for themselves.  This is why family and friends are often chosen, so that individuals can be at peace knowing that their last wishes will be fulfilled after they have passed on.