What are the Responsibilities of an Estate Administrator?
As you prepare your will and other estate planning documents, you will need to name an estate administrator to carry out your stated wishes after your passing. This person should be organized, trustworthy and fully capable of handling this important responsibility.
Furthermore, it’s important to fully understand these responsibilities to ensure you make the right decision in naming an estate administrator. The following is an overview of those duties:
- File the will in probate court: The administrator must find and read the will, and then file it with the probate court. During this process, the administrator also determines who inherits which property in accordance with the decedent’s wishes.
- Send death notifications: The administrator must notify banks, credit card agencies and various government agencies of your death.
- Pay bills: The administrator pays off any existing bills or debts owed by the estate before distributing the deceased’s assets. He or she also must file any tax returns necessary for the estate.
- Inventory: The court requires the administrator to submit an inventory of assets involved in the probate process.
- Maintain property: Until the property in an estate can be distributed to beneficiaries, the administrator must maintain that property. This may include houses, vehicles and other high-value items.
- Distribute assets: After the will has passed through probate, the administrator can distribute the assets per the wishes outlined in the deceased’s will.
- Dispose of other property: If there is still property left over after paying all estate debts and distributing property to beneficiaries, the administrator disposes that property in any way, whether it is through estate sales, donations or garbage.
To learn more about how you can choose the right administrator for your estate, speak with a skilled Florida estate planning lawyer at The Charles Law Offices.