Executor's Master Checklist
Being named an executor is a legal responsibility, not just an honor. You are personally liable if you distribute assets before paying creditors or taxes. Follow this chronological checklist to protect yourself.
Phase 1: Immediate Actions (Days 1-14)
- Order 10-15 certified copies of the Death Certificate.
- Secure the deceased's physical property (change locks on the house, secure vehicles).
- Forward their mail to your address to track down unknown bills and assets.
- Locate the original, signed Will (copies are usually not accepted by probate courts).
Phase 2: Legal Setup (Weeks 2-6)
- Consult with a probate attorney (highly recommended).
- File the Will and a petition for probate with the local surrogate/probate court.
- Obtain the "Letters Testamentary" from the court (your official legal authority).
- Apply for an Employer Identification Number (EIN) for the estate from the IRS.
- Open an Estate Bank Account using the EIN. Never mix estate money with your personal funds.
Phase 3: Marshaling & Valuing (Months 2-6)
- Publish a Notice to Creditors in a local newspaper.
- Create a comprehensive inventory of all assets (real estate, accounts, jewelry).
- Hire professional appraisers for real estate, antiques, and businesses to establish Date of Death value.
- Close the deceased's personal bank accounts and transfer funds to the Estate Account.
Phase 4: Taxes, Debts & Distribution (Months 6-12+)
- Pay valid debts using estate funds (DO NOT use your own money). Reject invalid claims.
- File the deceased's final personal income tax return (Form 1040) and the estate income tax return (Form 1041).
- Submit a final accounting to the probate court for approval.
- Once approved, distribute remaining assets to heirs according to the Will.
- File a petition to close the probate case and discharge your duties.