Settling an estate is more work than you think.
Expect plenty of paperwork. Executors have a fiduciary duty to carry out the terms in the will, including notifying heirs, paying any liabilities and distributing assets.
Once approved, the executor takes over settling the estate and should have letters of testamentary from probate court confirming his or her appointment as executor, says Will O’Rourke, financial advisor at Prime Capital Investment Advisors and who also has a law degree.
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