Being an estate executor is a big job, and one that entails many duties and responsibilities that you’re perhaps encountering for the first time.
You’ll need to file important paperwork in a timely fashion, make funeral arrangements, complete tax returns, and communicate with banks and insurers to notify them of your loved one’s passing and get the information that you need for probate.
A huge part of this process entails the so-called “discovery of assets,” which means that you’ll need to create an inventory of all of the deceased’s assets, as well as their value, in order to determine the size of the estate and distribute inheritances according to the will’s directions.
This asset discovery process can feel particularly daunting for many executors. While some people may have meticulously planned their estate and left a clear, detailed set of instructions for their estate executor to find all relevant assets once they pass, this isn’t always the case.
Sometimes people pass without a will, or without having updated their wills to reflect their current assets, or may have a sprawling estate without having left behind a clear roadmap for their executor. For someone who’s never had to go through this process before, this step can feel daunting.