Once given or assuming this title, you have a special legal responsibility, referred to by our laws as a fiduciary responsibility, to satisfy the requirements of probate laws and procedures, as well as fulfilling the provisions of the decedent's will if there is one. A fiduciary is required by law to act in the best interests of other individuals while carrying out various designated activities and functions. These activities and functions are typically closely monitored by the probate court.
Satisfying the fiduciary responsibilities of an executor or administrator is particularly challenging because they involve a wide range of tasks, the handling or completion of which will likely impact how the other tasks are handled or completed. These tasks typically involve the following:
- Application for appointment of fiduciary and filing of the will
- Location, valuation, marshalling, liquidation, and ultimately proper distribution of estate assets
- Proper and timely completion and filing of probate documents, which typically include inventory, list of claims, estate tax return, and final accounting
- Winding down pending litigation or commencing litigation for the estate, or defending the estate when litigation is commenced against it
- Completion and filing of the decedent's final income tax return, and completion and filing of an income tax return for the estate known as a 1041
- Resolution of creditors' claims and the decedent's debts
Our law firm has decades of experience in handling decedents' estates and, along with our wide range of areas of practice, this makes us uniquely qualified to help you as executor or administrator of an estate.
New Haven is our home as it is yours. We have the experience and the know-how to get things done and win for you.
Contact the Law Offices of Esposito & Annunziata today!