When a family member discussed the idea of your becoming his or her estate executor, you may have felt honored by his or her trust in your abilities. After accepting the position, you may not have thought about the situation often but rather regarded it as a responsibility that would present itself sometime in the distant future. However, now that your loved one has passed, you must face your responsibilities as his or her personal representative.
You may wish to understand that administering the deceased person's estate may not come easy. Certain roadblocks could present themselves that result in the probate process taking more time than anticipated, and you may wonder how you will handle all the necessary tasks.
Some of the biggest issues that could cause probate administration to slow considerably have to do with beneficiaries named in the will. First of all, if your loved one wanted to spread his or her wealth and ensure that many people benefited from the estate, you could have your work cut out for you. You will need to take the time to contact each beneficiary to ensure that they understand the situation, and also ensure that they take the necessary steps required of them, such as signing and returning documents.
Because the probate process cannot come to an end without the completion of all the required steps, any hold-up by the beneficiaries will significantly hinder your ability to carry out your duties as executor. Along this line, you may have to contend with serious difficulties if the beneficiaries do not get along or if one individual proves particularly contentious. Conflicts could result in some individuals choosing to take legal action of their own, which can prove particularly problematic.
Another significant problem that could make your tasks more difficult relates to the assets themselves. If your loved one specifically bequeathed every piece of property he or she owned, your job may prove relatively easy. However, if he or she did not take this route and assets remain, you will have to determine what happens with those assets. If the property falls into the category of being particularly difficult to liquidate, you may spend a considerable amount of time attempting to close the estate.
Preparing for administration
Luckily, you can take proactive steps to prepare for your job as executor during probate administration. You can learn more about the position, review information about the estate and discuss any concerns you may have with a Maryland probate attorney who could provide you with useful and reliable information.