Accepting the responsibility to close an estate is a big commitment. In many cases, it could take up to a year or more to finalize everything according to the testator’s instructions.
Preparing to fulfill your duties can help you step into your role with confidence and poise.
Developing a good relationship with the testator can provide opportunities for insightful instructions. You can gain an understanding of the testator’s final wishes on a personal level. According to U.S. News, inquire about potential estate-related conflicts that could happen. Think about which strategies you would use to minimize disputes and encourage unity and understanding among heirs.
Some of the tasks you will oversee may include the following:
- Checking the status of properties
- Satisfying any outstanding debts
- Obtaining a death certificate
- Distributing assets to heirs
- Collaborating with legal professionals to verify information
The pressure and stress of closing out an estate can cause unease if you have a lot of other duties to tend to. Before agreeing to close an estate, make sure you have the resources and time to complete the job. Know who you can turn to for help and support. This may include your legal team and the testator’s family. Make sure you still take time for yourself. Committing certain days or hours to handling estate-related duties might also help you avoid burnout.
When you respond with an organized plan and empathy, you can assist the testator’s family and provide reassurance and comfort. With a well-written estate plan, clear guidelines from the testator and the support of others, you can successfully and efficiently manage the closure of an estate.