Property and Debts of the Estate

If you're the executor of a loved one's estate, you're in charge of safeguarding estate assets and paying estate debts. As always when other people's money is involved, you're held to the highest legal standards. You must be extremely conscientious when it comes to managing money and property in the estate, because you'll be required to account for all of it when it's time to close the estate. If you can't show where certain items or money went, you could be personally liable for the loss suffered by the estate and the beneficiaries.

Learn how to pay the debts, bills, and taxes of the deceased person, and how to collect or manage different types of property in the estate, from bank accounts to IRAs to real estate. Also check out our articles on settling the estate and the probate process.

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