The legalese in estate plans can sometimes make them difficult to interpret. Still, if you are the estate administrator, you need to understand what’s going on so you can ensure that the decedent’s wishes are followed. It isn’t always easy to carry out the administrative duties, so we are here to help you understand the estate plan’s instructions and your specific duties. To avoid legal repercussions, it is important to get everything done the proper way from the start.
Many things in an estate plan are straightforward and easy to accomplish. For example, you need to find the assets and heirs. Unless there are otherwise hidden or people who have left without a trace, you should be able to find who and what you need. Of course, there are options available if you are having trouble in this area.
Another area that must be handled, but might be slightly more complex than finding heirs and assets, is filing the final tax return. The difficulty in this is determined by factors in the estate, so don’t be afraid to get help if this is too complicated or if there are components you don’t know what to do with.
We know that you might have some questions about other facets of estate administration. For example, you may need to find out which debts you need to pay. We are here to help you with these so that you know tasks are being carried out properly. Failing to fulfill your timely duties can cost the heirs extra money and unnecessarily delay the process.