An Executor of an estate, called a Personal Representative in Indiana, is simply the person who is designated to carry out the wishes set forth in the decedent's will. This person also has the responsibility of finishing up the decedent's final affairs, such as paying outstanding bills and taxes. An Executor is usually named by the decedent in his or her will, and a judge will need to validate that choice before the Executor can begin to carry out his or her duties. If the deceased did not have a will at the time of his or her passing, a judge will choose an Executor.
If you have been named as an Executor or personal representative, you will likely find yourself in need of assistance from an experienced Indana probate attorney. A probate attorney will help you complete your duties in a timely manner while guiding you through more complicated tasks of administering an estate, such as ordering appraisals, notifying creditors, liquidating assets, and filing tax returns.
Duties of an Executor
An Executor will want to follow the terms of the will as closely as possible. As an Executor your job will primarily be to:
- Locate all assets of the estate and file a complete inventory
- Pay the bills owed by the estate
- Manage the estate's assets as required throughout the process
- Distribute assets to heirs and beneficiaries as instructed by the will
- Close the estate once everything is complete
Remember, most Executors end up working with a probate attorney after the loss of a loved one…and for good reason! Administering an estate can be expensive, frustrating, and you could be held liable by heirs for any unintentional mistakes or oversights while carrying out your duties. To ensure that the job is done correctly and that you are making decisions according to the laws and in the best interest of heirs, talk to a probate attorney about what may be required of you. If you'd like to meet with an Indiana probate attorney, simply call (260) 969-1177 or click here to schedule a complimentary consultation.