Once the courts grant the Executor letters testamentary, it is time to marshal the assets and pay the liabilities of the estate. An experienced estate attorney can provide valuable advice and help with this process. Marshalling the assets involve first locating the assets of the decedent. The assets that are to be marshaled are any accounts and property that did not have a beneficiary attached to it. The following are other steps the Executor must account for:

Being an Executor is no easy task. It can be very difficult to find where a decedent had their assets. Also, deciding whether to sell an asset or transfer at value is another difficult decision an Executor may need to make. The most important step of being an Executor is keeping detailed records. Every penny that was brought into the Estate should be accounted for.

For further legal advice and to talk with an experienced probate attorney, please feel free to give us a call at (718) 875-2191 or request a consultation.