What are the duties of an executor?

An executor is a person appointed in a person’s will who is responsible for carrying out the desires of the deceased. In Hawaii, the duties of an executor include collecting the deceased’s assets, paying any debts, and distributing the remaining assets to the beneficiaries as stated in the will. The executor must obtain a copy of the death certificate, open a probate account, and notify banks, stockbrokers, and other financial institutions about the death. They must inform the Social Security Administration and the Veterans Administration about the death and make sure the decedent is given any benefits they are entitled to. The executor needs to collect and inventory all of the decedent’s assets. This includes bank accounts, stocks, real estate, and personal property. The executor must also notify all creditors about the death and pay off any outstanding debts. The executor has to prepare and file all necessary tax returns, including estate tax returns, gift tax returns, and income tax returns. They must also prepare any estate documents such as deeds, closing statements, and other legal documents. The executor is responsible for distributing the decedent’s assets according to the terms set out in the will. This includes making sure the decedent’s beneficiaries receive their gifts and inheritance in a timely manner. The executor also needs to provide an accounting of their actions to the court and the beneficiaries.

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What are the duties of an executor?

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