Execute the Will
The term "execute the will" means to action the instructions written by a deceased person in their Last Will and Testament.
Once a Probate Court proves that the will is valid, and officially authorizes the executor to manage the deceased's Estate, it's the executor's job to follow the directives of the will and Administer the deceased's Estate.
When a person passes away and leaves a will, the process of executing the will involves several key steps:
Validating the Will: The will must then be validated in probate court to ensure its authenticity. This typically involves confirming that it meets legal requirements, such as being properly signed and witnessed according to state laws.
Appointing an Executor: The person named as the executor in the will or, if there is no named executor, someone appointed by the court (known as an Administrator) takes on the responsibility of executing the will. The executor is responsible for managing the deceased's estate and carrying out the instructions in the will.
Inventorying Assets: The executor must identify and Inventory all of the deceased person's assets, including property, financial accounts, personal belongings, and investments.
Paying Debts and Expenses: The executor is responsible for identifying and paying the deceased person's debts, including outstanding bills, loans, and taxes, from the estate's assets.
Distributing Assets: Once debts and expenses are settled, the remaining assets are distributed to the beneficiaries as specified in the will. This may include the transfer of property Titles, distribution of financial assets, or other actions as outlined.
Final Accounting: The executor is typically required to provide a final accounting of all estate assets, expenses, and distributions to the court and beneficiaries.
Closing the Estate: Once all instructions in the will have been carried out, debts settled, and assets distributed, the estate can be formally closed, and probate court will issue a Judgment of Final Distribution upon which the executor's responsibilities conclude.