Duties of an Executor

• Locate original Will and file and/or probate in the Surrogate’s office
• Locate and inventory all of the assets of the estate, including:
• Bank accounts, pension benefits and retirement accounts, stocks and bonds, Social Security benefits, veteran’s benefits, vehicles, furniture, jewelry, and other valuable possessions
• Obtain death certificate, life insurance claim forms (if estate is beneficiary or if no living beneficiary), Social Security burial allowance if applicable
• Assemble deeds, abstracts, lease contracts, and insurance policies for each piece of real estate
• Locate names and addresses of all heirs, beneficiaries, and next of kin

• Determine current bills owed, such as doctor, hospital, rent, etc.
• Check status of decedent’s credit or debit accounts
• Research other debts that exist, e.g., mortgage, bank loans, life insurance loans
• Obtain receipts for every bill paid and keep a record of payments

• Obtain Federal Tax ID# at www.irs.gov
• Set up an estate account
• Register stocks, bonds; arrange for collection of dividends and interest
• Have items of property appraised
• Calculate value of estate and probable state and federal taxes
• Determine and pay all necessary taxes, including state inheritance and estate taxes, if applicable
• Prepare estate’s income tax return in addition to the last income tax return of decedent
• Pay real estate taxes, if necessary

• Determine who is entitled to share in the estate
• Determine how the assets will be distributed
• Pay all final bills
• Transfer and re-register securities
• Prepared detailed accounting for heirs and beneficiaries of estate. If ordered by the court, also prepare formal accounting for court approval.