What Is the First Thing an Executor of a Will Should Do?

Handling the responsibilities of an executor can feel overwhelming, especially in the early stages. The role involves legal and financial duties that must be carried out carefully to honor the deceased’s wishes while complying with the law. Acting promptly and methodically can help prevent complications.

Before distributing assets or making major decisions, certain foundational steps need to be taken.

Locating the Original Document

Finding the original will ensures the estate is handled according to the deceased’s instructions. A signed, physical copy is typically required for probate, as courts generally do not accept photocopies unless specific legal procedures are followed. The document is often stored in a safe deposit box, a home safe, or with the attorney who drafted it. Checking personal files where other important documents were kept can also be helpful.

If the will is in a bank’s safe deposit box, accessing it may require a court order or proof of authority, depending on state laws. Some states allow a next of kin to retrieve the will without probate court involvement, while others require a formal request. If the document was left with an attorney, contacting their office can expedite the process.

If the original cannot be found, state intestacy laws may determine asset distribution. Some jurisdictions allow a copy to be submitted with supporting evidence, such as witness testimony or an affidavit from the drafting attorney. If multiple versions exist, the most recent, properly executed document takes precedence.

Securing Financial and Property Records

Gathering documentation related to the deceased’s assets is necessary for managing the estate effectively. Bank statements, investment account summaries, retirement plans, and insurance policies provide insight into financial standing. Property records, including deeds, mortgage documents, and vehicle titles, help establish ownership and any outstanding liabilities. These records will be essential when assessing the estate’s value and ensuring all assets are accounted for before distribution.

Financial institutions typically require a certified death certificate before granting access to accounts. Some may also request legal authorization, such as Letters Testamentary, before disclosing balances or transaction histories. If the deceased had digital accounts, retrieving login credentials or working with the institution’s estate management department may be necessary to access online banking, investment platforms, or cryptocurrency holdings.

Real estate holdings require special attention, particularly if rental properties, vacation homes, or commercial buildings are involved. Reviewing lease agreements, property tax statements, and homeowner’s insurance policies helps determine ongoing financial obligations and whether any immediate action is needed to maintain the property. If real estate is jointly owned, understanding survivorship rights or transfer-on-death arrangements is important for determining how ownership will be handled.

Checking for Immediate Debts or Obligations

Unpaid bills, loans, and recurring expenses don’t pause when someone passes away. Utility bills, credit card payments, medical expenses, and personal loans need to be identified quickly to prevent penalties or service disruptions. Reviewing recent bank transactions can reveal ongoing financial commitments that may need to be adjusted or canceled.

Secured loans on vehicles or mortgages may have immediate consequences if left unaddressed. Lenders can initiate repossession or foreclosure proceedings if payments are missed. If the deceased had a co-signer or joint account holder, that individual may still be responsible for the balance. Some debts, like federally backed student loans, may be discharged upon death, while others, such as private loans, might still require repayment depending on the lender’s policies.

Creditors have the legal right to file claims against the estate, but not all debts need to be paid immediately. State probate laws establish deadlines for creditors to submit claims, and executors must ensure that valid debts are settled in the correct order of priority. Funeral expenses, estate administration costs, and certain taxes often take precedence over unsecured debts like credit cards. Consulting state-specific probate rules can clarify which obligations should be addressed first.

Opening the Probate Case

Initiating probate formalizes the executor’s authority and ensures the estate is administered according to the law. Filing the will with the appropriate court is often required to begin proceedings, and some jurisdictions impose strict deadlines, such as within 30 or 60 days of the individual’s passing. Courts typically require additional documentation, including a petition for probate, a certified death certificate, and an estimate of the estate’s value.

State laws dictate whether probate is necessary, with some allowing estates below a certain threshold—often ranging from $50,000 to $150,000—to bypass formal proceedings through small estate affidavits. If the estate qualifies for summary administration, the executor may avoid lengthy court involvement, expediting asset distribution. Conversely, estates with complex holdings, contested wills, or significant creditor claims often require full probate, which can extend the process for months or even years.

Cataloging Assets and Liabilities

Once probate is underway, compiling a comprehensive inventory of the estate’s holdings and outstanding obligations is necessary for proper administration. Courts often require an official list of assets and debts, which serves as the foundation for determining distributions, settling claims, and calculating any estate taxes owed. Executors must ensure everything of financial value is accounted for, including real estate, bank accounts, investment portfolios, business interests, and personal property such as jewelry, collectibles, or vehicles.

Liabilities must also be thoroughly documented to prevent legal disputes or improper asset distribution. This includes mortgages, personal loans, medical bills, and any unpaid taxes. Some debts may be tied to specific assets, such as a car loan secured by a vehicle, which could impact whether the asset is sold or transferred. If an estate lacks sufficient liquid assets to cover obligations, state laws dictate the order in which debts are settled, with secured creditors often taking priority over unsecured claims. Executors should also be aware of any jointly held liabilities, as surviving co-borrowers may still be responsible for repayment.

Evaluating Tax Requirements

Tax obligations can significantly impact the estate’s final value and must be addressed before distributions are made. Executors are responsible for ensuring compliance with federal and state tax laws, which may include filing final income tax returns, paying outstanding property taxes, and assessing whether estate or inheritance taxes apply. The IRS requires a final Form 1040 for the deceased, covering income earned from January 1 of the year of death until the date of passing. If the estate generates income after death—such as rental income from properties or dividends from investments—a separate estate tax return (Form 1041) may also be necessary.

Estate taxes are another consideration, though they only apply if the total estate value exceeds the federal exemption limit, which is $13.61 million for 2024. Some states impose their own estate or inheritance taxes, with lower exemption thresholds that could affect smaller estates. Executors should review state-specific tax laws to determine whether additional filings are required. If taxes are owed, they must be paid before distributing assets to beneficiaries, as tax authorities have the right to claim payment from the estate before heirs receive their shares.