Explaining the executor’s role

On Behalf of | Sep 21, 2015 | Probate And Estate Administration

When Nevada residents die after having prepared a valid will, they normally will have named someone to act as the executor. It is important for those who have been so appointed to understand what they will need to do and what their roles may entail.

The first thing an executor should understand is that fulfilling the task is not easy. The executor will need to be able to search for and locate all of the assets that the testator has left behind. This will normally involve searching through paperwork. They must then report assets to the probate court and be able to read and understand highly complex legal language. Executors must also locate assets that pass outside of the will, such as life insurance policies. Even though these proceeds pass directly to the named beneficiaries, if they were in the testator’s name, estate taxes may be owed that the executor will need to pay.

One of the most difficult things about serving as an executor may be if assets pass unevenly to heirs under the decedent’s will. This may mean that executors may find themselves in the midst of conflict between the family members. They will still need to be able to deal with the conflict while also distributing the assets according to the will.

The estate administration process may be very complex and difficult. Executors may need to seek help from professionals, including accountants and estate planning attorneys, to help them complete the required tasks. When people are in the process of writing their will, they may want to make certain that their chosen executor will be able to complete the necessary duties and get their permission before naming them. People may also want to consider ways in which to pass their assets outside of the supervision of the probate court to minimize later difficulties.