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GermanLawGroup

Estate Planning & Medicaid Attorneys in Grand Forks , North Dakota

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Home » Serving as Executor FAQs

Serving as Executor FAQs

    • What is probate and how does an Executor fit into that process?

    • If this is the first time you have been directly involved in the probate of an estate, it helps to get a general idea if what your role is during the process. The overall purpose of probate is to ensure that a decedent’s estate assets are identified, valued, and eventually transferred to the new owners. Before assets can be distributed, however, creditors must be given the opportunity to file claims and any federal and/or state gift and estate taxes must be paid. The Executor of an estate is appointed by the decedent in his/her Last Will and Testament and is charged with overseeing the probate of the estate.

    • How are the decedent’s assets handled by the Executor?

    • The Executor must locate and review all estate planning documents. Because estate planning documents may interact, it is crucial to locate all of them as soon as possible. Documents to look for may include a Will, trust agreement, life insurance policies, and/or Letter of Instruction among others. An original copy of the Will must be located in order to initiate the probate process which will officially grant you the authority you need to act as the Executor of the estate. An Executor must also ensure that assets are identified, located, and secured because he/she is ultimately responsible for them throughout the probate process.

    • How does the Executor secure assets?

    • Examples of steps to take include:

      • Take possession of vehicles.
      • Close financial accounts
      • Lock up real estate and arrange for upkeep.
      • Speak to employees at a business and arranging for continued operations

    • Are all assets subject to probate?

    • No which is why the Executor must categorize estate assets. Some assets are classified as “non-probate” assets because they bypass probate altogether. Determining which assets are probate assets and which are non-probate assets is necessary to determine if the estate may qualify for a small estate alternative to formal probate. Common examples of non-probate assets include:

      • Assets held in a trust
      • Proceeds of a life insurance policy
      • Accounts designated as POD or TOD
      • Certain types of jointly held property
      • Certain retirement accounts

    • How does an Executor initiate the probate process?

    • The Executor must request several certified copies of the decedent’s death certificate. A copy will likely need to be submitted to the court to open probate. One will also be needed for the funeral home, and copies will likely be needed for third parties when acting as Executor. You will also likely need to submit an original copy of the decedent’s Last Will and Testament to the court.

    • Does an Executor need to hire an attorney?

    • You are not legally required to retain an attorney when serving as the Executor of an estate; however, doing so will help you avoid costly mistakes. Any fees related to probating the estate, including legal fees, will be paid by the estate.

Contact Us

The North Dakota probate attorneys at German Law are dedicated to helping you with all your estate planning needs, both now and in the future.  Contact the team today by calling 701-738-0060 or contact us online.

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TESTIMONIALS

Client Review
August 24, 2020
    

Needed to come in to get specific advice for our needs. The attorney spoke to us in terms we could understand, coming to our level and did not make up feel uncomfortable. They were very considerate and caring. We didn’t feel rushed. We felt like they cared and knew what they were doing.

C.P., Minnesota
Client Review
August 24, 2020
    

We were wonderfully satisfied. Wayne did an outstanding job of explaining, diagramming and answering questions and concerns.

JW & CD, North Dakota
Client Review
August 24, 2020
    

They were courteous, efficient, knowledgeable, and trustworthy.

D.T., Minnesota
Client Review
August 24, 2020
    

Very helpful. Our children and us are are confident in your group.

-Anonymous, Fargo, North Dakota
Client Review
August 24, 2020
    

"Very professional, covered all, expertise, friendly, peace of mind now."

- Anonymous, North Dakota
Client Review
August 24, 2020
    

So much of a client's high or low opinion of an organization depends on their welcomed feeling. I felt that every time I visited the office, every person I talked with listened and took action on my concern or questions! They were also very friendly.

~J.R., Grand Forks, ND
Client Review
August 24, 2020
    

From phone calls to signing the final documents I was treated with respect, kindness, and understanding by Wayne & Jenn. Every business that wants their business represented well should have someone like Jenn & Wayne. They both made me feel relaxed and assured I was at the right place at the right time at this time in my life. 

~ Deborah Rucinksi, North Dakota 
Client Review
August 24, 2020
    

All of the paperwork was completed in a timely matter. Wayne was very good in explaining the trust to us. 

~Anonymous
Client Review
August 24, 2020
    

Thank you for taking care of my finances after I am gone. I worried about probate once; hopefully this has been solved. Everyone was very polite and helpful. Thank you Katie for answering my questions, and also Jenn.

- Anonymous
Client Review
August 24, 2020
    

This Avvo rating is killer and so deserved! You are the best brother! The only thing is I think the 10 rating is too low, in my book you go to 11! Congratulations on the award, you should be very very proud. See you at your Holiday party, thx for the invite.

Anthony G., Los Angeles, CA
Client Review
August 24, 2020
    

Everyone at German Law was helpful and pleasant. I felt good about my decision, I thought I was doing the right thing for myself & my family. Wayne took his time and didn't rush, which is good because a lot of this can be over people's heads.

A.W., Red Lake Falls, MN
Client Review
April 15, 2021
    

Excellent

Very interesting, informative and valuable information and ideas.

Valuable information.

RP
Client Review
April 15, 2021
    

5 STARS! Thanks for allowing this to be on a webinar! Very interested in this topic.

Great Estate Planning Guide

SD
November 25, 2022
    

John provided very short turn-around time that we needed. He built an amortization schedule that really met our needs. He was responsive and very easy to work with! Quick and easy!

 

Cammy was also very helpful and professional!

November 25, 2022
    

Really Liked it.
Assisted by John Oelke

November 25, 2022
    

Excellent!

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German Law
2650 32nd Avenue South, Suite O
Grand Forks, ND 58201
Phone: (701) 738-0060
Fax: (701) 738-0064

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