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Responsibilities of the Executor of an Estate
Petition to Probate the Estate
As executor of a deceased person’s estate, your primary role will take place during probate, which is a process under Maryland law through which a deceased person’s estate is settled. In other words, the executor’s duties or responsibilities usually begin when the deceased person (who has named the executor as the personal representative) dies. However, the executor does have to file the will and take care of preliminary tasks before probate. Most notably, you will need to file a Petition for Probate of an Estate. There are various types of estates, and it is important to work with a Maryland trusts and estates attorney who can ensure your petition is filed correctly.Managing the Estate
Once you have filed a Petition for Probate of an Estate, you will have several responsibilities when it comes to managing the estate. Those responsibilities may include, but are not limited to the following:- Determining the assets of the estate;
- Having the assets of the estate appraised;
- Notifying creditors of the deceased’s death;
- Selling or liquidating assets if necessary, to prevent those assets from diminishing in value;
- Collecting rent on any real property with tenants; and
- Representing the deceased’s estate in any legal claims.