Meurer Law Offices, Denver, Colorado
Once you pass, your estate will need to be managed by an executor designated in your will. Estate administration is the process by which this person collects your assets, then has everything inventoried and appraised. The executor will also be responsible for paying your debts and taxes, and then distributing all remaining assets to your beneficiaries in accordance with your will. While it might seem simple, the Meurer Law Offices know that there are a lot of moving parts involved with the process, so it’s important to select a trustworthy and capable executor.
Estate administration may also include managing your funeral and burial arrangements, handling all documentation such as your death certificate and providing notice to important entities such as the DMV, your credit card companies, insurance providers and creditors. Your executor may even be in charge of safety deposit boxes and electrical accounts such as your computer and laptop.
During the probate process, the estate administration duties of your executor include properly managing your estate during this process. They will ensure that nothing is removed or taken, such as antiques or jewelry from your home. They will also protect assets from losing value due to neglect. This could include managing upkeep for a real estate property not jointly owned and automatically passed to a surviving spouse.
As you can see, an executor in charge of estate administration takes on a lot of responsibility. At the Meurer Law Offices, we can help you select the right person for the designation, whether it’s your spouse or an adult child. We’ll then update your will accordingly to reflect your wishes.
Call or contact our offices today to schedule your free consultation: 303-991-3544