Role ofthe Executor of the Estate

Episode Summary

In this episode of Affluence and Advocacy, Kevin Rosenquist and Natalia Sishodia discuss the crucial role of an executor in managing an estate. Natalia explains the responsibilities and challenges faced by executors, including navigating probate, managing estate assets, and ensuring the timely distribution of assets to beneficiaries. With real-life examples, they explore common questions and provide advice on staying organized and seeking professional help. The episode emphasizes the importance of legal guidance and the responsibilities of an executor to ensure a smooth estate administration process.

 

Timestamps:

[00:00-00:30] Introduction to the topic of executors and their responsibilities.

[00:30-00:56] First steps for an executor after being named in a will, including filing the will with the surrogate court.

[00:56-01:47] Natalia shares a story of helping a client navigate the probate process after a three-year delay.

[01:47-02:56] What happens if an executor passes away before the estate is settled, including the appointment of a successor executor.

[02:56-04:23] The main responsibilities of an executor, including identifying assets, paying debts, and distributing assets.

[04:23-05:25] Common questions from executors, especially about which assets should be included or excluded from probate.

[05:25-06:36] Managing overwhelming tasks as an executor and the importance of seeking professional help.

[06:36-07:57] Final advice for executors on staying organized and seeking professional guidance early in the process.

[07:57-09:08] Conclusion and a reminder to reach out to Ashia PLLC for assistance with estate matters.

 

About The Show

Affluence and Advocacy is a podcast dedicated to demystifying the complexities of New York real estate and estate law. Hosted by Kevin Rosenquist and featuring legal expert Natalia Sishodia, the show offers practical insights, real-life examples, and actionable advice for navigating challenging legal scenarios. Whether discussing estate administration, real estate transactions, or the role of executors, each episode equips listeners with the knowledge they need to make informed decisions and avoid potential pitfalls.