Executor Duties (3 of 5)

Executor Duties (3 of 5)


13. Take steps to protect property if necessary.

14. Bank: Notify bank of death. Update statements then transfer to trust account. Invest excess cash after estimating immediate cash requirements

15.Receivables: Make lists of outstanding wages, vacation pay, death benefits from employment. Apply for any death or survivor benefits from elsewhere. File life insurance claim. Collect mortgage principal and/or interest. Make list of investment income (interest, dividends).

16.Investments: Collect records of stocks, bonds, etc and inventory. By reference to market value, determine if they should be sold. Change name to that of executor prior to disposition. If estate is ongoing, review market values and capital gains often in case of sale.

17.Real Property: Ensure insurance coverage is adequate. Arrange supervision of vacant property. Cancel insurance as assets are disposed.

18.Business Assets: arrange for competent management. Determine whether business should be sold.