Five Executor Duties: A Guide for Executors in Ohio
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This document outlines the key responsibilities of an executor in Ohio after a person passes away, including filing for probate, providing notice to creditors and heirs, managing estate assets, taking care of taxes, and transferring property. It emphasizes the importance of the executor's role and suggests seeking legal assistance for fulfilling these duties. Executors may decline their role, in which case the court appoints an estate administrator.
Five Executor Duties: A Guide for Executors in Ohio
- 1. FIVE EXECUTOR DUTIES A GUIDE FOR EXECUTORS IN OHIO
- 2. WHO SERVES AS AN EXECUTOR?
- 3. When a person creates a will, the will creator names an executor.
- 4. The executor is responsible for overseeing the estate administration process.
- 5. A named person can decline to be an executor and the court will instead appoint an estate administrator.
- 6. THE EXECUTOR HAS MANY RESPONSIBILITIES
- 7. The executor has many different obligations during the probate process.
- 8. Five key responsibilities of an executor include the following:
- 10. The executor has to file for probate.
- 11. This must be done in the county or counties where the deceased person owned assets.
- 12. PROVIDING NOTICE
- 13. The executor has to provide notice to creditors and to beneficiaries or heirs about the probate process.
- 14. If there are outstanding debts owed to the estate, the executor also has to try to collect.
- 15. MANAGING ASSETS
- 16. The executor has to make an accounting of estate assets and, if necessary, must arrange for appraisals and valuations.
- 17. The executor also must take care of all of the probate assets during the entirety of the probate process.
- 18. TAKING CARE OF TAXES
- 19. An executor has to obtain a tax ID number for the estate, if necessary.
- 20. The executor has to file tax returns and facilitate the payment of all estate taxes and any other taxes required as a result of the death and transfer of the deceased’s property.
- 22. The executor must take formal steps necessary for the legal transfer of property, including facilitating changing titles and deeds.
- 24. An executor should get help from an experienced estate planning and probate lawyer in fulfilling executor duties.
- 25. Contact The Zimmer Law Firm today at 513-721-1513.