What are the duties of an executor?
An executor is someone appointed to handle the estate of a deceased person in Oregon. An executor is responsible for carrying out the wishes of the deceased as outlined in their will. This includes notifying beneficiaries, collecting and distributing assets, paying creditors, filing final tax returns, and generally managing the estate until it is completely administered. The executor must also make sure the estate is submitted to the court for review. After it is approved, the executor will be responsible for paying any taxes due, distributing the assets, and closing out the estate. In Oregon, the executor must file a report with the court, which provides an accounting of all the assets of the estate, all of the payments made, and all taxes paid. Executors also have a fiduciary duty, so they must act in the best interests of the estate. This means they must be unbiased when making decisions, act with honesty and integrity, and not make decisions that would benefit themselves rather than the estate. Executors must be aware of their legal responsibilities and seek advice when needed. Overall, an executor’s role is to carry out the wishes of the deceased as outlined in their will, to manage the estate efficiently, and ensure the assets are distributed appropriately.
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