Estate Administration Basics

The executor's job

1. Petition the probate court to be appointed.
2. Notify heirs and creditors as the law requires.
3. Inventory assets and get valuations.
4. Pay valid debts, taxes, and expenses.
5. Distribute what's left under the will or state law.
6. File a final accounting.

Executors owe duties to heirs and can be personally liable for mistakes. Keep estate money separate and record every transaction.

Sources

• Consumer Financial Protection Bureau — managing someone else's money

General information, not legal advice.