What are the duties of an executor?
An executor is someone appointed by the court to manage the estate of a deceased person during the probate process in Maryland. An executor’s duties are to collect and safeguard the deceased person’s assets, pay off any debts or obligations the deceased owed, and distribute any remaining assets to the rightful heirs. The executor must also make sure that all applicable taxes are paid, inform any known creditors of the deceased’s death, deal with any financial disputes concerning the estate, file the necessary paperwork to close the estate, and ensure all assets are distributed according to the wishes of the deceased as stated in the will. The executor is also responsible for managing the estate’s finances, such as investing its money, filing income taxes, and making sure the estate’s bills are paid. The executor must provide an accounting of the estate’s finances to the court to ensure the probate process is completed as smoothly as possible. In summary, an executor’s main duties in Maryland are to collect assets, pay creditor claims and other financial obligations, file taxes, invest assets, and distribute assets to the rightful heirs. The executor must also provide an accounting of the estate’s finances to the court.
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