How to Fulfill a Fiduciary Duty as an Executor
A fiduciary duty is a legal duty involving two or more parties. The fiduciary duty of an executor deals specifically with wills and the debts of someone who has just passed away. Here is how to fulfill your duties if you find yourself in this position.
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Instructions
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Find the will. The will is the last testamentary disposition of a deceased person. This is the paperwork that tells you what to do with all the left over money after you complete all the following steps. The will also sets forth who the executor is.
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Start probate proceedings. Pay the fees out of the estate and have yourself named as the executor. This is where the legal duty begins.
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Pay the deceased person's taxes. There are three main duties of an executor and the first is to pay the taxes. The taxes can be found by collecting old mail and search the deceased person's belongings. If he owned a home, there will be taxes. If he owned a car, there will be taxes. Call the county if you can't find tax bills.
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Distribute the left over money to the beneficiaries. The will and other documents will tell you where the money goes. First look at the will. The will might have other written documents that help explain where certain things go.
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Comments
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Lavisa777
Nov 25, 2008
I have sued by family as the admin of my sons estate. They have made up anything they can to keep me in court. Even going into my home under false names to view my home when i moved and took pictures and filed with the court stating they saw numerous things in my home that belonged to my son after a break in at the estate. I had to prove with pictures his stuff, my stuff, now they said i drove my sons truck for months and sold it and kept the money and they are suing for equity in the truck. The truck was repossessed it was smashed up the day the son died. They want 11,000 in equity from a repossessed truck. Even the by out was more than the truck was worth. They keep filing law suits against me, they want thirty k from me now. They want the whole estate turned over to them with money keys and property and they went to court and told them that they are sure I wont turn over the money to -
Lavisa777
Nov 25, 2008
I have sued by family as the admin of my sons estate. They have made up anything they can to keep me in court. Even going into my home under false names to view my home when i moved and took pictures and filed with the court stating they saw numerous things in my home that belonged to my son after a break in at the estate. I had to prove with pictures his stuff, my stuff, now they said i drove my sons truck for months and sold it and kept the money and they are suing for equity in the truck. The truck was repossessed it was smashed up the day the son died. They want 11,000 in equity from a repossessed truck. Even the by out was more than the truck was worth. They keep filing law suits against me, they want thirty k from me now. They want the whole estate turned over to them with money keys and property and they went to court and told them that they are sure I wont turn over the money to
