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Probate administration duties of an executor

One of the most difficult choices people must make when planning their estates is to choose the person who will represent them during probate. Probate administration can be tedious and frustrating. It can also be time-consuming. The person chosen for this important task must be able to fulfill the duties in accordance with Oklahoma law.

The personal representative named in a will is also known as the executor. The executor's first duty is to secure the probate property of the person who has died. While life insurance and some retirement funds are distributed directly to the beneficiaries designated on the accounts, most other property must be valuated and distributed through probate court. This may include real estate, business interests and personal belongings.

The executor must also alert and pay all creditors, and prepare and file final income and estate tax returns for the deceased. Creditors are given a certain amount of time to claim what the deceased owed, and the executor must maintain the estate or liquidate any assets needed to pay the debt. When this is accomplished, the executor files the appropriate documents for the distribution of the remaining assets to their beneficiaries.

The complicated duties of an executor are not to be taken lightly, and choosing someone for the job takes serious consideration. One's personal representative must be organized and thorough, but he or she should also be informed well ahead of time of the responsibilities the job entails. An estate planning attorney can assist anyone in Oklahoma who is struggling to choose an executor for probate administration. Such an attorney can also be available to assist an executor with those duties and responsibilities.

Source: thebalance.com, "What Does a Personal Representative Do?", Julie Garber, Accessed on May 6, 2017

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