When dealing with estate administration, one of your most important duties, aside from distributing property and assets to beneficiaries according to a will, is settling the affairs of an estate. Whether that is managing property or filing pertinent documents, it is your responsibility as an executor to make sure everything about the estate is in order. One aspect of settling the affairs of an estate involves settling any outstanding debts the estate may have. As an executor, you can utilize the liquid assets of an estate to pay off any debts or taxes that need to be paid. While the liquid assets of an estate may be laying around in several different accounts, stocks, and bonds, you can consolidate these assets into a checking account that can allow you to freely pay off any debts that are owed. Creditors may continue to come asking for their debts to be paid off following the death of the owner of the estate. This is why it is important to ensure you are doing your responsibility correctly by contacting an estate administration attorney to help you with your duties as an executor.

How Do I Deal with Disputes as an Executor?

Handling disputes from beneficiaries can be pretty difficult as an executor. Many beneficiaries may feel entitled to overstepping their boundaries especially if you are not related to the immediate family. These disputes can boil over and cause several issues to the process. One of the best ways of handling disputes is by having an estate administration lawyer by your side to resolve any pesky issues that pop up.

Can I Be Liable for Not Fulfilling My Duties as an Executor?

Executors have a fiduciary duty to manage the estate to the best of their abilities in accordance with the stipulations put into place by the testator. This means an executor should follow the will that was left behind, deal with creditors, pay off taxes owed, manage property, and more. If you are unable to do these duties or you disregard the wishes of a will, you may be liable for legal action to be taken against you. Protect yourself and put yourself in the best position to do your duties correctly with the help of our estate administration attorneys.

What Can an Estate Administration Attorney Do for Me?

Estate administration can be challenging if you are an executor. With so many responsibilities falling on your plate, you should turn towards experienced help to ensure you fulfill your fiduciary duty to your estate and protect yourself from any legal action. Contact Thomas-Walters, PLLC law firm today at (919) 424-8277 to schedule a free consultation and learn more about the estate administration process and what we can do to help.