Administering a deceased person’s estate in Maryland can involve everything from arranging the funeral to selling property and filing documents to a probate court. The estate executor is chosen to be the primary manager of an individual’s assets and should know what the responsibilities are.
Arrange the funeral and burial
It’s the executor’s responsibility to arrange for the funeral and burial and obtain the death certificate. Additional tasks include notifying banks, the Social Security Administration and other organizations that were responsible for managing the decedent’s estate before the death.
Set up a schedule
Working as an executor can become a part-time job upon the estate owner’s death. The average executor may spend over 500 hours performing the duties over an average of one year or longer. To save time and energy, it’s advisable to make a schedule and set aside enough hours for the estate administration process.
Review the state’s requirements
There are certain requirements that every executor must follow in Maryland. There are tax filing requirements along with restrictions and deadlines. The executor should create a task list of every step to take in order.
Prepare the paperwork
It’s important to locate the original documents of the will and trust. The executor needs to make copies and file the documents to the probate court within six months after the person’s death.
Becoming a successful estate administrator
Naming the right person as the executor is the most important part of an estate administration. This is a high position of trust and reliability that must be willing to perform a series of tasks that could take up to a year to complete. As an estate executor, you must understand the full range of duties that you are given.