Keep careful records when serving as estate executor

Getting named as the executor of a loved ones’ estate is a dubious honor. On the one hand, someone trusted you enough to request that you personally see to it that the last will and estate plan get followed. On the other hand, there is a lot of responsibility involved in handling an estate.

The more assets your loved one left behind, the longer the process of settling an estate can take. Similarly, the more heirs there are, the more complicated the process of handling an estate may become. You want to ensure that everyone is happy with the outcome while still respecting the wishes of the deceased.

There are several critical steps to accurately and effectively administering an estate. The first is to read and thoroughly review the last will, estate plan or trusts involved. Then, you can plan how to best follow the instructions and wishes outlined in the will.

It is typically in your best interest to work with an experienced Florida estate law attorney through the entire process of estate administration. Your lawyer can help ensure that you are properly interpreting the last will or estate plan and provide guidance with the most effective ways to comply with the requirements. At each step along the way, your attorney can also help document how you handle the estate.

Accurate records protect the executor

There are a number of potential concerns when handling an estate, not the least of which is tax liability. The larger the estate, the more likely there will be tax considerations related to it. As the executor, the best way to limit any personal tax liability is to carefully document how assets get disbursed and how they were handled. Doing so establishes that they haven’t become your assets or a source of income for you.

Accurate and thorough records can help in the event that there is an issue with the estate. Whether it’s a tax concern or worry from someone that something from the last will wasn’t addressed, having thorough records can establish what you did and didn’t do as executor of the estate. Your attorney can advise you on your options when it comes to handling the estate.

Legal advice helps executors avoid simple mistakes

Working with an attorney who understands both Florida state law and how estates are meant to work can help make settling an estate much simpler. Being an executor doesn’t have to be overwhelming. Making the right decisions is much easier when you trust the advice you’re getting. You deserve the peace of mind that comes from knowing that you have done the best you could for your loved one. Handling an estate with the help of an attorney can be much simpler for everyone involved.