Agreeing to handle wrapping up the details of another person’s life may seem like a good idea at the time, but when it comes time to actually do it, a Tennessee resident could experience some anxiety. Where does an executor begin? Are there any potential roadblocks to watch for? Getting the answers to these questions could reduce the amount of stress you feel you are under right now.
You will be responsible for completing a number of duties before all is said and done. For instance, one of your first duties will involve tracking down all of the assets, financial accounts, debts and digital assets your loved one owned upon death. This alone can be a daunting task. Add to that notifying heirs, beneficiaries and creditors, filing any needed tax returns, and other duties and the process can get unwieldy. In addition, the process ordinarily takes anywhere from four to 12 months — if all goes well.
You could come up against some obstacles to a smooth probate and estate administration process. Not all heirs, beneficiaries and creditors are pleased with the way things are going. Someone could challenge the validity of the will by insinuating that it was executed through fraud, under duress or due to undue influence. The surviving spouse could decide to decide to request the statutory share instead of what was left in the will.
As you can see, serving as an executor requires a great deal of time, effort and attention. Fortunately, you are not required to undertake these responsibilities on your own. You and everyone involved could greatly benefit from you working with a Tennessee probate and estate administration lawyer.