What duties are required of the Executor or Administrator?

The fiduciary duty begins when the executor or administrator takes possession of the decedent's property over which he or she has control. After determining the assets and liabilities of the estate, the debts must be paid; and then pursuant to the direction of the will, the property is distributed. Written notice of qualification or probate is given to the heirs and beneficiaries of the estate within 30 days after qualification. An affidavit of filing of said notice is filed in the Circuit Court Clerk's Office within four months after qualification along with the filing fee. The executor or administrator also files with the Commissioner of Accounts a complete inventory of the assets in the estate within four months of qualification. 

Additionally, the executor or administrator must also file an accounting each year until such time a final accounting can be made and the estate is ready to close. This is also done through the Commissioner of Accounts. Often, a first and final accounting can be accomplished at the end of the first year following qualification. It is important that the executor or administrator keep complete and accurate financial records, as he or she must accurately report on all receipts and disbursements in his or her control.

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1. Where should the will be probated?
2. What does dying "testate" or "intestate" mean?
3. Who inherits the property of a decedent who dies without making a will?
4. When should I probate the will or if there is no will qualify as administrator of the decedent's estate?
5. Who is responsible for presenting the will for probate?
6. Who will the Court appoint as executor or administrator?
7. What should I take with me to probate a will or qualify on an estate?
8. Is the appointment of an administrator or executor always required?
9. What duties are required of the Executor or Administrator?
10. Do all estates pay a probate tax?
11. Where can I go for more information to specific questions?