Probate

• The executor named in the will must bring the original will and a certified copy of the death certificate to the probate court of the county in which the decedent resided. The court then officially appoints the executor, who swears an oath and may be required to post a bond in case of mismanagement or fraudulent activity regarding the estate. The court issues letters testamentary, allowing the probate process to proceed and the executor to handle estate administration.
  
  

Executor Duties and Responsibilities

• The executor must place a notice to creditors in the newspaper in the county in which the decedent lived. She must also hire any professionals to deal with estate matters, including attorneys, appraisers and accountants. She must open a checking account under the name of the estate and receive a federal identification number from the Internal Revenue Service for the estate. Executors must pay all of the estate's bills and the decedent's creditors from estate assets. She must file the decedent's final income tax return as well as any federal or state estate returns.
  
  

Inventory

• Within 90 days of issuance of letters testamentary, the executor must submit an inventory of all the decedent's real estate and personal property to the court. This includes bank accounts, securities, cash, mutual funds, retirement accounts, bonds, motor vehicles, art, antiques, jewelry and other items of value. The inventory must include the fair market value of all real estate and personal property as of the date of the decedent's death, along with any claims against the estate. The executor may file for an extension if the inventory is not completed within 90 days.
  
  

Closing the Estate

• After settling all claims, filing tax returns and paying any tax owed, and paying all bills relating to the estate, the executor may pass the remaining estate assets to the heirs and beneficiaries designated in the will. She must submit a final accounting of estate matters to the probate court, which may require receipts, copies of bills, bank statements and related documentation. The court may then order the estate closed.