What Does an Executor (Personal Representative) Do?
After the decedent dies, the executor is the person nominated to supervise the distribution of testator’s estate during the probate process. The testator is the person who is deceased. When you are completing our online free will forms at FreeLawyer.com you will be required to select a Personal Representative for your estate. This person is also legally referred to as the executor of the will.
The executor has a fiduciary duty to act in good faith to ensure the testator’s wishes are carried out. The executor is required to do the following to ensure the testator’s wishes are carried out:
• Petition the probate court to oversee the administration of the estate; • Inventory and collect testator’s assets; • Manage assets during probate proceedings, including paying ongoing expenses with funds from the estate; • Receive and pay bills, creditor’s claims, taxes, and other debts; and • Distribute the remaining assets to the beneficiaries.
When you select an executor for your online free will it is important to ensure the person you nominate is ready and willing to fulfill these duties and any additional duties your jurisdiction requires. People usually select a family member or close friend to be their executor. Additionally, you can assign a legal attorney with experience administering estates.