Who is responsible for administering an estate?

In New York, the person responsible for administering an estate is known as the executor or administrator. The executor is named in the will and is typically a close family member or trusted friend of the deceased. The executor is responsible for carrying out the last wishes of the deceased and making sure all the assets of the estate are properly handled and distributed according to the terms of the will. Once the will has been read, the executor must take the necessary steps to begin the probate process. This includes taking an inventory of the estate, filing the will in the local probate court, and then notifying all the heirs and beneficiaries of the deceased. The executor must then follow certain procedures to properly administer the estate. These procedures include settling all the debts of the estate, filing any necessary tax forms, and distributing the assets to the designated beneficiaries. The executor must also keep records of all the transactions and decisions made during the process. The executor is responsible for ensuring that the estate is being handled properly and in accordance with the wishes of the deceased. Therefore, it is important to choose an executor carefully and to make sure they are well-informed about the process. Responsible and competent executors can make the probate process a smooth and efficient one.

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Who is responsible for administering an estate?

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