The Randall Law Firm can help you manage the issues of administering an estate. If you are named in a Will as the Executor, you have a multitude of responsibilities which include:
- Gathering information about the assets and debts of the estate;
- Notifying the beneficiaries that they are named in the Will;
- Paying all the decedent’s debts, including taxes;
- Filing the decedent’s final personal income tax return, fiduciary income tax returns and estate tax returns, if required.
After the estate remains open for seven months you will also need to account to the beneficiaries with an itemized report of the total assets collected, expenses paid and calculate the amount to be paid to each beneficiary according to the terms of the Will.
Finally, upon complete payments to the beneficiaries, the estate file needs to be closed at the local Surrogate’s Court.
If there is no Will, the estate representative is called an Administrator instead of an Executor, and his or her duties are primarily the same as those of an Executor listed above.
In either case, you want to feel totally confident that you have handled your responsibilities correctly, especially since Executors and Administrators are personally liable for their actions.
We will perform these duties as part of our legal services when we represent an Executor or Administrator.
Together, Denise and Robert Randall have over 60 years combined experience in this area of law. Additionally, Denise is an adjunct Professor of Estate Planning at The College of Saint Rose in Albany, New York. With our experience you can be assured the administration your estate is done accurately and completely.
The Randall Law Firm can help you in all aspects of Elder Law
including Estate Planning, Wills and Trusts, Estate Administration,
Probate Law – Surrogate’s Court, Health Care Proxies, Living Wills,
Powers of Attorney, Medicaid Planning and Medicaid Trusts.
Please call us at 518-869-1205 or click here to use our contact form.