executor, louisville probate, settle kentucky estateTips For Executors

An executor is a person that is named in a will to settle an estate of a decedent.  This is both an honorable and important duty for the deceased’s family that needs careful attention.  If you have been named executor or personal representative for an estate then you have probably figured out that it is a very specific and sometimes cumbersome task to complete.

This article is designed for giving you some tips that will guide you through some of the steps along the way as well as point you to other resources that may help as well.

The Probate Process

First, to help you understand the Probate process for the state of Kentucky here is a link to “Guide to Basic Kentucky Probate Procedures.”  http://courts.ky.gov/resources/publicationsresources/Publications/P88ProbateGuideforProSeLitigants609.pdf it is an informational guide that walks you through the process itself, and gives you a step by step guide through various procedures.

Inside it talks through the basics settling an estate, what are fiduciaries and Sureties, guardians and conservators to minors, curators, and petitioning for a name change in Kentucky. This document does not, provide legal advice, make you an authority, or take the place of an attorney.

Documents and Resources

Next, once you understand the basic process you should refer to this article I wrote “Quick checklist for executors and personal representatives.” In this article you’ll learn some of the specific documents you’ll need to obtain, and the resources to contact to help with settling the affairs of the decedent.

This article helps you identify items you may not think of during these high emotional times, like notifying Social Security Administration, or contacting an accountant.

Probate Real Estate

Third, the biggest asset in most estates is the house.  Many heirs simply don’t want to keep the house or can’t afford the financial responsibilities that come with this inheritance.  The executor is usually tasked with converting this large asset into cash to repay debt, and/or disperse inheritance portions as mentioned in the will.

On the surface, this would seem easy enough but here is a resource that will help you make that job easier on you, the executor. “Help for executors and Personal Representatives in settling estates

I sincerely offer my condolences to you during this time and offer these tips to help relieve any amount of stress this time and process may cause.  I also extend myself to you should you need any assistance in the probate process whether it is real estate related or not. Please reach out to me via email or phone.

Dave

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