An Executor or Administrator of an Estate is responsible for marshaling the decedent’s assets held in the name of the decedent at death. The Executor or Administrator is also responsible for filing a final income tax return for the decedent’s year of death, for the funeral and disposition of remains of the decedent, and for the payment or settlement of the decedent’s debts and final medical expenses if they are not covered by insurance. To the extent that the decedent owned illiquid assets in his or her individual name at the date of death, the Executor or Administrator will need to have these assets appraised by a professional appraiser.
Our practice advises and represents Executors and Administrators in carrying out these duties.
We welcome you to contact Mark T. Neil & Associates for more information.