Executorships
As estate settlement and administration grows ever more complex, it is important to name a qualified Executor for your estate. A good Executor is responsible, experienced, knowledgeable, trained and well equipped to handle the varied tasks - many of which are legal in nature - that must be performed in connection with the administration of your estate.
By naming CoreFirst Bank & Trust as Executor under your Will, you can be sure that your estate will be handled properly, efficiently and with the least possible inconvenience to your family. Just a few of the services we perform as Executor are:
1. Meet with members of the family and keep them fully advised through all stages of the administration and settlement of the estate.
2. Take immediate steps to insure that property is protected and that the deceased’s financial records and papers are gathered and preserved.
3. Arrange for the filing of the Will and Codicils, if any, with the Probate Court and obtain formal appointment as Executor.
4. Locate and take control of bank accounts, securities and other property belonging to the estate and compile and inventory such property.
5. Collect funds owed or payable to the estate, including Social Security Benefits, veteran’s benefits, insurance proceeds or pension plan proceeds.
6. Pay funeral expenses, final medical bills and any other valid claims of estate creditors.
7. Obtain appraisals of real and personal property for tax purposes.
8. Determine which assets, if any, should be sold to raise funds needed to pay claims, taxes and administration expenses based on the needs and desires of the beneficiaries of the estate.
9. Collect dividends, interest, rent and other estate income.
10. Operate continuing businesses, manage rental property and look after and supervise other real estate as required.
11. Gather and compile all information necessary in connection with estate and inheritance taxes and ensure timely filings.
12. Prepare and file one set of Federal and State income tax returns covering the period after death and up to the date the administration is completed.
13. Submit interim and final accounts to the Court and to the beneficiaries of the estate.
14. Distribute the assets of the estate according to the terms of the Will.
As you can see, the necessity of undertaking these kinds of complex duties and responsibilities in connection with the proper administration and settlement of the deceased's estate makes it increasingly important for a professional, such as CoreFirst Bank & Trust to serve as your Executor.
Benefits of naming CoreFirst Bank & Trust as your Executor:
· Caring and Compassionate Expertise
· Experience
· Impartiality
· Technical Ability
· Continuity
· Financial Responsibility