<p>As an executor in waiting not knowing what needs to be done is terrifying. I am assuming I will employ my parents estate lawyers for a few hours to ensure I’m doing all the right things. The first visit would be right at the start to give me the appropriate to-do list. Good luck working through this … it sounds like you’re doing a great job!</p>
<p>PS - one idea … run a credit report with each of the 3 credit agencies … that might highlight some accounts/credit cards about which you are unaware.</p>
<p>When my mother died I had a lawyer for the estate, my brother had his own lawyer, my (minor) half-brother had HIS own lawyer, I had a different lawyer doing my divorce at the same time, and my soon-to-be-ex had HIS own divorce lawyer. So at one juncture of time the 4 of us had 5 lawyers :(.</p>
<p>In my city, things can be pretty simple-but you have to know what the steps are, how they relate and how to navigate. Then, when each hiccup occurs, it can be back 3 steps, while you go research the new question or start calling around. In contrast, a lawyer works with all this. </p>
<p>I think it’s safe to say, every situation can hit snags, places where you just don’t know. The fee I’m dealing with is in the “few thousand dollars” range. When done, there’s the assurance it was done to spec, so to say. Not just for the client and the family, but for the city/state and anyone else. </p>
<p>Some of this decision is about the expertise and assurance. The other is your own time management. Most of the time, if not nearly all, if yours is truly “just do this and then that and you’re set,” a consult will tell you so. </p>
<p>Our snag was that it’s summer, one office went on short hours and some closings and a new additional internal step was recently added. I just would have freaked if I sat there, calling around, not understanding if the wheels were turning or I was going to end up against a wall. </p>
<p>If friends can’t recommend, they may have financial advisors they trust, who can. My rec came from my F guy.</p>
<p>Use the attorney for advice. Don’t have them do any more than they have to, as they do cost a fair amount – I just mean that you should sort out account balances, ownership, etc – do the legwork yourself, then tell the attorney what you found. Where possible… Our attorney does do the estate taxes (the estate itself has had federal and state returns in our case, and this is a complicated task that I couldn’t do). But we used a separate (cheaper) accountant for the deceased’s personal tax return that has to be filed for the year of their death. And I go over lists of questions with the attorney when I am not sure how to handle something. Although you may get an initial list of tasks from the attorney, you likely will end up talking to them more than once to get through all the steps.</p>
<p>Some of what you are saying is really raising red flags in my mind, especially regarding the bank accounts. And again, you may not be liable for all the bills you think you are once the person is deceased. The attorney can help you sort that. Do not wait on finding an attorney to help you.</p>
<p>This has been really informative. I’m sorry for your loss.</p>
<p>When SIL died almost three years ago, my other SIL, her sister, handled the estate. There wasn’t much to it as she’s never married and had no kids and had virtually no money to speak of, but in the past few years she has started pouring money into retirement so there was some. I had no idea that some of this stuff can take so long to shake out, and now I feel kind of bad that my surviving SIL may have thought we were greedy for the money because we wanted her to settle some things. Our issue was that both sisters had hoarder tendencies so while there wasn’t much money there was a lot of JUNK. The surviving SIL kept paying month after month of rent on the duplex because she wanted to go over every little thing. Dh and I arranged for trucks and help to empty the place so that this cost wouldn’t continue, but she wouldn’t hear of it. And then once we finally talked her into clearing out the place after months of unneeded rent expense, we then had months of storage space because, again, the SIL just wouldn’t move on getting rid of the possessions. In our opinion, thousands and thousands of dollars were wasted that didn’t need to be.</p>
<p>Anyway, I mention that because we’re only hearing OP’s side and maybe the siblings aren’t money-hungry, horrible people. Maybe there’s other stuff going on or maybe they’re as misinformed as we were.</p>
<p>^ the more I read up on this, the more I see how much you need an attorney, even for the sort of support you note, intparent. I found some good overviews, only to realize my state has its own functional (and legal) amendments. Slogging through the web is only as good as the thinking and writing skills of the author. And the interpretive skills of the reader. </p>
<p>Get a consult. I’m all for DIY, but this is needs a guide. (Eg, the 1-5 year creditor question can depend on how you file and proceed.) Let an expert in.</p>
<p>Thank you for bring up this topic. My husband will be the executor of his father’s estate in what is an extremely difficult family. I now realize that his task will be very difficult and I don’t think he realizes that. I’m going to bring up the topic with him and encourage him to hire an attorney or maybe even recuse himself of the job.</p>
<p>After my experience, I have often thought that if I were to go back to school and become an attorney (no worries, not actually doing it, but I do occasionally fantasize… :D), I would be an estate attorney. It is an area where people need help to navigate the law because it is complex and not intuitive. And at a time when they are grieving and really need a hand. Now an estate like this probably does not need an estate specialist, though. I think most generalist attorneys can handle a simple estate.</p>
<p>Youdon’tsay, it does sound to me like your SIL dragged her feet on dealing with the possessions. Our whole family helped sort/sell/dispose of the items for the estate I am working on. It was quite a bit of work. And as the executor I am the one who did most of the files & paperwork sorting (looking for assets, etc). But my surviving brother and my parents did an awful lot of the other stuff regarding furniture, clothing, etc. I still have a TON of paperwork (equivalent of about 4 filing cabinets) in my house at the moment. Planning on a bonfire in the fire pit with much of it this fall, I hope! Not some of the key documents, but I have all of his financial records for years prior to his death still at my house, etc.</p>
<p>I am not sorry I took this job on. It is one of those things we do for our family members – not pleasant, but it is important to do right. If your H is the best suited for the job (most organized, maybe has some business background, etc.), then he should do it if possible. I will say we have one very difficult heir involved in our estate, and I have been to court with my attorneys against her a couple of times since the estate started. But I know the deceased appointed me for a reason, and I take my responsibilities seriously. My attorneys have made all the difference in helping me do the best job possible, though.</p>
<p>My advice would be: You are the executor, lawfuture. Your mother chose you for this responsibility. The schedule of disbursements should be entirely up to you, as long as you are acting reasonably. You seem reasonable to me.</p>
<p>I don’t actually think that you need a lawyer, based on what has been posted. Obviously, opinions differ on this and I will acknowledge that you might find it worthwhile to have one (but probably expensive).</p>
<p>What do folks feel is expensive? I will have gotten more than my money’s worth. 3k, for the guidance, advice, research, paperwork and filings (including the legwork,) expediting, follow-up and the legal advice re: investments that will need to be moved and reallocated, and those which need to be protected, as is. Plus some actions on behalf of other family members. For my grandmother, the attorney charged $250 for a simple action. MIL’s cost maybe 1250.</p>
<p>Ya know, not everyone chooses an executor based on the person’s skills. It can be an emotional decision or based on convenience. Not everyone has many close ties to choose among. And, if someone dies intestate, it’s not a pre-choice.</p>
<p>I agree OP may not need much (though the testy relatives throw in a wrench.) But a consult is easy.</p>
<p>Btw, I realize we don’t know the dollar amount OP is dealing with- whether a few thousand is too much.</p>
<p>“I therefore wonder if there is any reason for a newspaper ad as some of you have suggested.”</p>
<p>OP - You would REALLY benefit from having a knowledgeable attorney guide you through the Estate settlement process. If required tasks turn out to be “essentially nothing” then the cost will be minimal. But the process of settling an Estate is littered with land mines, and legally all accountability lies with the Executor, personally.</p>
<p>PS, Under NO CIRCUMSTANCES should you be disbursing funds to heirs at this point.</p>
<p>OP-the problem is, you don’t know what you don’t know. Consulting an attorney can give you peace of mind that you are covering all of your bases.</p>
<p>QuantMech, just curious – have you actually been an executor for an estate? Maybe you have, you don’t say in your post. But I notice that those who have been through it have mostly been saying that at least a consultation with an attorney is a good idea. Especially if there are siblings who are questioning the course the OP is taking.</p>
<p>Disagree. Not employing an attorney even on an advisory basis to assist an executor of a deceased person’s estate is one of the epitomes of penny wise pound foolish decisions one could ever make. </p>
<p>All the cases where I assisted my executor friends were exceedingly complicated, laden with aggravations, and filled with drama-laden landmines…and that’s with exceedingly helpful attorneys and accountants who cooperated to the utmost to assist us.</p>
<p>I agree on the lawyer issue. In the case of my mother mentioned above, the law actually required that my half-brother have his own attorney appointed to look after his interests since he was a minor. Who would know things like that on their own? You need someone who knows what they are doing here.</p>
<p>My parents named their lawyer executor of their estate. My dad passed in November and this has been invaluble to my mom. He will be executor when my mom is no longer with us. My parents weren’t and aren’t wealthy but they’re not penniless either and if it can save my brother and me hassle and hard feelings, it’s money well spent IMHO.</p>
<p>We had a relative die in March 2012. Her estate is STILL being finalized. We did retain the attorney who wrote her will and trust. A cousin-in-law is the executor. In our state and I believe most others, you do have to print an ad so creditors can present claims before stated deadline so they can all be discharged. </p>
<p>I’d add to the chorus here that says stick to your terms–no disbursements. If you really want to be “nice” and consider allowing a small disbursement, have them sign notarized bond, as posted above where they guarantee to reimburse if for any reason those funds need to be returned. Seems much cleaner to me to , “Just say NO.”</p>
<p>It would be helpful to know what the approximate size of the bank account is. That would help determine whether it is worth it to spend several hundred-to-thousand dollars on an attorney. If the amount is small, then OP’s potential liability is limited in any event. OP, are you willing to share that information with us?</p>
<p>I don’t agree that you have to have an attorney, but the fact that someone is seeking advice on a message board and appears to be not completely informed that this process is governed by specific laws in each state is suggestive that an attorney could be useful.</p>
<p>If you don’t look for one, at least start googling for information. Its pretty easy to find that some states require placing legal notices in the paper about the estate. Others allow (may require) the executor to write to potential creditors to notify them directly. </p>
<p>I’m not aware of the specific rules, but its not unreasonable to guess that some states time limits may be measured from the time any required notices are filed, so it may be that not filing the proper notifications will delay the closing of the estate. I don’t know whether this is the case, but it is a question of fact, and it is discoverable by finding and understanding the applicable statute. I think you should start there, and probably proceed to an attorney who handles estates.</p>