YOUR ROLE AS EXECUTOR Estate Plan Responsibilities Explained
Being named an executor is an honor that comes at a difficult time. But looking after the estate of a loved one after they are gone is a privilege that comes with many responsibilities. You must manage paperwork, assets, and maintenance costs. Moreover, as executor of the estate, you
are responsible for carrying out the will of the deceased. If you have been named executor of an estate, here are three duties you must manage.
This is necessary to file a tax return for the decedent’s final year of life and to file a life insurance claim. It will also be required when notifying applicable government agencies, such as the Social Security Administration, of the decedent’s passing. It will also be your responsibility to notify the decedent’s credit card company, banks, and mortgage lenders. Funeral Arrangements and Accounts The decedent’s wishes for funeral arrangements will most likely be included in the will, and it is your role as executor to carry them out. Additionally, all payments made on behalf of the decedent should come from an estate account. Establishing an estate account for dividend payments, paychecks, tax refunds, and burial expenses is key. This role may seem complicated, but whoever gave it to you knew you were up to the task.
Asset Distribution The primary role of the executor is to
distribute the estate’s property according to the decedent’s wishes. This also includes paying for maintenance costs during probate and before distribution can occur. As the executor, you are responsible for paying any mortgage, utility, car, and other necessary bills until the beneficiaries take over those responsibilities. Although some assets may avoid probate, the executor must file the will in probate court in most states. Paperwork and Notification As executor, you must obtain copies of the death certificate from the funeral home.
If the top of your desk looks like a photo op for an “I Spy” book, chances are you could benefit from tidying up. It isn’t easy saying goodbye to your familiar clutter, but it’s for the better. A messy environment can be stressful and frustrating, as it makes finding anything more difficult and worsens the overall attractiveness of your home. While change can be challenging, it is worth the effort for your home and health. First Thing’s First Growing up, your mom probably reminded you to make your bed. There is a good reason to prioritize that first thing in the morning, as it helps set an intention to accomplish the little things and get your day off to a more productive start. It also contributes to better sleep hygiene; a cluttered bedroom and undone bed could be hindering your sleep. So, eliminating potential distractions, including an unmade bed, could enhance your sleep. Clean Slate Keeping a clean home can help you be more physically fit. According to a study by Indiana University, a tidier living space contributes to higher levels of physical activity. Keeping things How to Become a Tidier Person Declutter Your Life
clean means keeping active, and even if you don’t exercise for 30 minutes daily, 30 minutes of vacuuming or any kind of scrubbing is still a great way to keep yourself moving. Daily Declutter While tidying up the home may seem daunting at first, it can be much easier if you break it down into smaller tasks. Doing a bit of laundry every other day helps prevent you from having to do a massive load later. Picking up around the kitchen when you get a snack or cook a meal can prevent that space from looking like a scene out of “Kitchen Nightmares.” Wherever you go in your home, if you pick up a thing or two cluttering the area and put it away, you are well on your way to becoming a neater person.
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