Executor's Checklist

Keys to a successful estate settlement process:

a) Constant communication with family and heirs.
b) Assign appropriate roles to family and heirs.

Initial Immediate Tasks:

1. Meet with decedent's family/heirs; offer assistance, discuss donation of body organs, provide basic information; obtain psychotherapy services if needed.
2. Provide physician with accurate information for death certificate.
3. Arrange for security at homes of decedent and close relatives.
4. Ascertain who has right to make funeral arrangements, notify clergy etc. -obtain ten copies of death certificate from funeral home.
5. Obtain deed to cemetery plot.
6. Help family prepare obituary.
7. Provide care for minors/family members unable to care for themselves.
8. Provide immediate care/security for plants/pets/business and personal assets (especially perishables) and documents.
9. Determine cash needs of immediate survivors and adequacy and sources of cash to meet demands.
10. Tell all friends and family members to give you receipts for funeral-related expenses.
11. Arrange for decedent's mail to be held at post office or otherwise managed until your formal appointment. Stop newspapers and other deliveries if appropriate.

Formal Estate Creation:

1. Locate and examine will. (If one can't be found prepare a petition for letters of administration.) If appropriate, advise spouse of right to obtain own attorney and elect against will.
2. Select and meet attorney to represent estate.
3. Conduct a rough estimate of decedent's assets/liabilities.
4. Prepare petition for "Letters Testamentary" (out-of-state or foreign property may require ancillary administration as well).
5. Probate will at Probate and Family Court and order certificates of appointment as executor/executrix.
6. If necessary arrange for bond with surety. Ascertain if special procedure for small estates is available and/or if estate can be settled by family agreements.

Assembling and Converting Assets:

1. Call property casualty insurance agent(s) and have all coverage checked for adequacy. Obtain confirmation in writing.
2. Call life insurance agent to have health and life insurance on survivors reviewed and request claim forms for proceeds on decedent's life.
3. Notify local banks of decedent's death. Request information on accounts/safe deposit box(s). Arrange for opening of safe-deposit box(s). Open new box for estate.
4. Redraft wills of survivors.
5. List all assets/liabilities. Examine checks, tax returns.
6. Locate and take control of all decedent's property.
7. Arrange for appraisal of personal property.
8. Arrange for appraisal of real estate.
9. Sell or dispose of all perishables.
10. Analyze and review securities. Put idle funds into money market accounts or CDs.
11. Notify Social Security/VA and county and begin to process forms for obtaining benefits.
12. Contact employer and request unpaid salary/bonus/vacation pay/pension/other death related benefits.
13. Advertise grant of letters.
14. Set up accounting and control system and apply for employer identification number from IRS.
15. Transfer all cash to new checking account in estate's name.
16. Obtain all stocks/bonds. Close brokerage accounts. Collect any interest/dividends. Sell securities to extent necessary/appropriate. Place balance in name of executor.
17. Inspect all real estate. Arrange for security, insurance, management/payment of taxes, collection of rents.
18. Put all jewelry/furs/art/other valuable personal effects into safe deposit box or other similar protected storage.
19. Proceed with, adjust, and settle claims/lawsuits.
20. Check will/letter of instructions and consult decedent's heirs and attorney with respect to business continuation. Arrange for immediate supervision and management. Decide on sale/liquidation/continuance.

Filing and Payments of Taxes, Debts and Expenses:

1. Request family exemption from state death tax if appropriate.
2. Obtain exemption certificates for charitable gifts.
3. File state and federal income tax returns for (a) period before death (b) period after death.
4. File federal estate tax return if necessary and pay tax due.
5. File state death tax return (s) (including other states and countries) and pay tax due.
6. Pay personal or real estate property taxes due.
7. Pay loans, bills, etc.
8. Pay appraiser's/accountant's/lawyer's/personal representative's fees and court costs.

1. Prepare and file accounting of receipts/dispursements/schedule of distribution.
2. Notify attorney general of state if charitable gifts are involved.
3. Notify unpaid creditors and beneficiaries of filing of account and time and date of audit.
4. Establish testamentary trusts if appropriate.
5. Transfer securities and assets in accordance with court approved distribution schedule
6. Obtain receipt and release from court.
7. Petition for surety's discharge.*

*This checklist was modified from a list in "How to Settle an Estate" by Charles K. Plotnick and Stephen R. Leimberg, Plume 1998. This is an excellent general reference we recommend for our clients who wish to learn more about the estate settlement process.