Frequently Asked Questions

Frequently Asked Questions > Independent Executors (13 entries)

I was just named independent executor of someone’s will. What do I need to know?

You need to understand the importance of your job as independent executor and the duties and powers that you have as independent executor. You should ask an attorney about what ...
I was told that I have “fiduciary duties” to the beneficiaries. What is a fiduciary duty and what does that mean for me?

A fiduciary is a person having a legal duty to act primarily for the benefit of another. When you are acting as independent executor, you are acting primarily for the ...
Can I serve as independent executor without an attorney representing me?

Probably not. Most courts will not allow a person to act in a fiduciary capacity without an attorney. Even if the court allows you to do so, it is ...
I was appointed as independent executor at a probate hearing, but they said I had not qualified yet. What does that mean?

Once the order appointing you independent executor is signed by the judge, you must then qualify as independent executor in order to receive Letters Testamentary. To qualify as independent executor ...
Now that I am qualified and have received Letters Testamentary, what do I do with these Letters Testamentary?

Letters Testamentary are your proof that you are the person designated and authorized to act on behalf of the estate. You will need to present Letters Testamentary to persons holding ...
Since my siblings and I are the only beneficiaries of the estate, may I put the estate property in my bank account so that I can avoid opening another account solely for estate property?

No. You have a duty to keep estate assets segregated from your personal assets. Therefore, you should never put estate property in your personal bank account and you should ...
Can I use estate property to pay the decedent’s medical bills and funeral expenses?

Typically, an independent executor may use estate funds to pay funeral expenses and expenses of last illness, and may even sell estate property in order to pay funeral costs and expenses ...
Can I sell the real property that is in the estate?

Generally, an independent executor may sell estate property (real or personal) if funds are needed to pay expenses of administration, funeral expenses, expenses of last illness, and to satisfy claims against ...
I was told I am required to file an Inventory, Appraisement and List of Claims. What is this and when do I need to file it?

An Inventory, Appraisement and List of Claims is a document which lists the assets in the estate, the value of each asset as of the decedent’s date of death, and a ...
Am I required to publish or send notice of any kind to creditors of the estate?

You are required to publish a notice to creditors in a newspaper printed in the county where the Letters Testamentary were issued. The notice must state that all persons having ...
The court's order admitting the will to probate and appointing me as independent executor states that I must post and file a bond. How do I do this?

First, you should contact an insurance company that writes bonds. You will need to fill out a bond application with the insurance company. When the application is approved, you ...
This estate exceeds the amount a person may transfer tax-free at death. Do I need to file a return with the IRS and/or with the state in this regard?

What do I do if taxes are due and how will I know if taxes are due? If you believe that the estate exceeds the amount a person can pass ...
What do I do when I am ready to distribute the estate property?

When you are ready to distribute the estate assets, you should review the will again carefully and distribute the assets as directed in the Will. Again, your attorney can ...