What does an executor have to disclose to beneficiaries?

What does an executor have to disclose to beneficiaries?

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Madison
Assistant at Parklin Law

If you are the executor of an estate, there's a lot about the job that you might not know. For example, did you know that as an executor you have to disclose certain information to the estate's beneficiaries?

The executor of an estate has three primary responsibilities:
(1) Gather whatever will go in the probate.
(2) Distribute property according to the decedent's will, if she or he has one, and;
(3) Handle any property that is owned by the person who passed away but did not go through probate.

If a person who passed away had set up a trust, the executor must tell her or his beneficiaries about it as soon as possible. Preferably, this should happen within 30 days after death.

An executor of a will has a duty to disclose certain information to beneficiaries. The executor must provide a full inventory of the estate's assets and liabilities. The executor must also give an accounting of all estate transactions and distributions. The executor must provide a statement of how property was distributed if it was not distributed according to the will. Finally, an executor must account for any money or property left over upon completion of the estate.

Being an executor can be a lot of work, but it also comes with certain legal responsibilities. Since you're the one in charge of dividing the assets of a deceased person among their beneficiaries, there are some things that you need to make sure are disclosed to those inheriting.

If you have any questions or in need an Estate Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.

We help you with Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More

Parklin Law - Estate Planning

5772 W 8030 S, # N206

West Jordan UT 84081

(801) 618-0699

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Parklin Law
Estate Planning Attorney in West Jordan
https://parkin-law.business.site/

40.605070, -112.027530

Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

Location: South Jordan, UT, USA

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