We are back with another installment of this checklist for executors. In previous blogs, we’ve listed duties that an executor should fulfill in the event of their loved one’s death. It’s a difficult time that can be stressful and sad. However, using this list to help you complete the tasks can help you work towards closing the estate without feeling too overwhelmed. At any point, be sure to contact our law office to speak with an estate planning attorney in Raleigh NC for help. We are here to walk with you each step of the way as an executor.
Take time to notify the deceased’s accountant of their passing. They’ll then begin to work on a final return for the deceased’s taxes. Meet with the accountant to have taxes prepared and filed for an estate tax return, estate taxes, and state inheritance returns if needed.
Does the estate qualify for special use of valuation for tax laws? This should be determined if you are unsure. If there are any state and federal taxes due, pay those.
Keep a record of any and all disbursements and receipts that have been accumulated during the closing of the estate. This includes executor’s fees, attorney fees, and more.
Be sure to head over to our next blog for one final installment in this series. You'll find information on closing the estate and more.
Though this is a long process, you’ll find that this blog series can help you, should you need to step into your executor role. We know it can be an overwhelmingly stressful time. That’s why our lawyer is here for you. Call our office with any questions you may have regarding being an executor. Our estate planning attorney in Raleigh NC can help.
Klish and Eldreth, PLLC | Estate Planning Attorney in Raleigh NC
If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our lawyer is here to help you get your estate planning in Raleigh NC in order and ready should you pass in an untimely manner or become incapacitated at some point.
It’s better to be safe than sorry when it comes to an estate plan. Contact our estate planning attorney in Raleigh NC to get started today. As always, feel free to contact us with any questions or concerns you may have about estate planning. Also, contact our attorney to schedule a consultation if you have yet to start estate planning. It's never too early to make plans for your wishes upon death. In addition, our attorney is here to help you with all your legal matters, whether it be estate planning, small business, trademarking, copyrighting, or other issues.
Missed previous blogs in this series? Click on the following links to learn more: