Executor’s Plan

Executor Checklist

*Please note that this checklist is not exhaustive. The tasks of the executor are governed by the stipulations outlined in the will, as well as applicable state laws.*

1. Assemble the Required Documents: (including any codicils, if applicable)

- Life insurance policies

- The death certificate (along with the birth certificate and marriage license)

- Social Security information

- Income tax returns from the previous three years

- Gift tax returns

- Trust documents

- Divorce decree

2. Notify Interested Parties:

- Inform family members, friends, and business associates

3. Make Funeral Arrangements

4. Engage Legal Counsel:

- It may be prudent to retain the attorney who drafted the decedent’s will

5. Access Safe Deposit Boxes

6. Inventory Assets:

- Bank accounts

- Brokerage accounts

- Real estate holdings

- Tangible personal property (e.g., vehicles, collectibles)

- Intangible assets (e.g., royalties, copyrights)

- Business interests

- Accounts receivable

7. Identify Liabilities:

- Real estate mortgages

- Property leases

- Credit card debts

- Auto loans

- Personal loans

8. Apply for Benefits:

- Life insurance proceeds

- Retirement plan benefits (including both qualified plans and non-qualified deferred compensation)

- Veterans’ benefits

- Social Security benefits

9. File the Decedent’s Income Tax Return

10. Assume Legal Ownership of Assets

11. Establish Mail Forwarding Services

12. Discontinue Utility Services

13. Notify Property Insurance Providers

14. Collect All Income Due to the Decedent

15. Monitor Investments Held by the Estate in Trust

16. Manage Ownership Interests Held by the Estate in Trust

17. Investigate Any Legal Claims Associated with the Estate:

- For instance, potential wrongful death lawsuits

18. Defend the Estate Against Legal Claims

19. Order Appraisals for Assets

20. Submit the Will for Probate:

- Collaborate with legal counsel throughout this process

21. File a Petition with the Probate Court

22. Arrange for a Bond, if Required

23. Notify Beneficiaries of Their Interests

24. Inform Creditors of the Estate

25. Seek Entitlements for the Spouse, as Prescribed by Law

26. Pay Valid Claims Against the Estate:

- This includes attorneys' fees, appraisal fees, burial costs, federal and state estate taxes, and creditors

27. Liquidate the Estate:

- Distribute or sell assets in accordance with the directions provided by the probate court

This checklist serves as a comprehensive guide for the executor's responsibilities in managing the estate following the death of the decedent.