When you pass away, your estate must be administered, regardless of whether you have a will or not.  The person or company who is responsible for managing the administration of your estate is called an “executor” (male), "executrix" (female), or in estates without wills “administrator” and "administratrix." Today, those terms are often merged for the single term, "personal representative." Since most people are familiar with the it, we will use the term "executor" in this article to incorporate all the other terms.  An executor does not have to be an actual “person,” but can also be an institution such as a financial institution.  Each state has its own qualifications or requirements for an executor.  In most states, minors, certain convicted felons and non-citizens are not qualified.  In Nevada, if you are not a resident of the state but you were named as executor of a will probated in Nevada, you can serve as executor.  However, if there is no will and you are a non-resident executor, you need to associate with a Nevada resident as co-administrator.
What are an executor’s duties?
The full extent of the duties required of an executor depend on the type of estate being probated.  Here are some of the common duties that an executor may be called upon to perform:

• Apply for probate. Applying for probate with the court by filing a petition officially begins the role of executor.  The executor will receive letters testamentary if there is a will, or letters of administration, if there was no will.
• Hire an attorney. Though it is not required, it is generally in your best interest to hire an attorney.  Mistakes can be costly, not to mention the fact that you may be held personally liable if something goes wrong during the administration of the estate.
• Locate documents. An executor is responsible for obtaining a copy of the death certificate and locating the will, if there is one.  Any other important documents, which take effect upon the individual’s death must also be located.
• Manage the deceased's property. It is also the executor’s duty to protect the decedent’s assets from loss.  So, one of the most important responsibilities in managing the estate is creating an inventory of assets and identifying liabilities.
• Pay valid claims by creditors. In most cases, funeral expenses, probate and administration fees, taxes and other fees are paid first.  Once all of the valid creditors have been found, the debts of the deceased must be paid from the funds in the estate.  The executor is never personally liable for any of these debts.
• Notify interested parties. In addition to determining valid creditors, an executor is also responsible for locating and notifying the beneficiaries of the will or any potential heirs of the deceased.
• Distribute property to the beneficiaries. After the fees, taxes and creditors have been paid, the remaining assets are ready to be distributed to the heirs or beneficiaries. In some cases, this means the executor will need to sell some property or set up trusts, if required by the will.
• File tax returns.  Estate taxes and incomes taxes must also be paid within the time limits set by law.
• Keep accurate records. The executor is expected to keep accurate records of all estate-related transactions, in order to create a final accounting.  This accounting is then filed with the court.  The beneficiaries will review the final accounting before the distribution of the estate is completed.   The estate is closed when the distribution of the assets with receipts from the beneficiaries has been accomplished and the final accounting has been approved by the court.

Serving as an executor is an incredibly important responsibility.  It requires a great deal of work.  Executors are entitled to compensation for their service, which is approved by the probate court, as well.

When disasters strike Americans step to the plate and do what is necessary to help their fellow citizens. Right now the victims of Hurricane Sandy can use help, and we should all do what we can to provide assistance.
Various different organizations have responded, and they are devoting significant resources to provide relief to people who were in the path of the hurricane.
As these resources are consumed they must be replenished so that entities like the Red Cross, America Cares, Save the Children, and others can continue to do their work when they are needed in the future.
To find out which organizations are chipping in and how you can assist them simply click this link: Donate to Hurricane Sandy Relief
Thank you for doing what you can to assist victims of this horrible storm.

The death of a loved one can strike at any time. Sometimes, we have time to prepare for the death when a loved one is diagnosed with a terminal illness or simply lives to an advanced age. Other times, a loved one can be taken from us without any warning. If you have a friend who has recently lost a loved one, and you would like to help, but don’t know what to do, consider the following:
Assist in locating important documents such as the decedent’s Last Will and Testament. Often, estate planning documents will include a funeral plan that could make planning the service and burial much simpler.
Contact the funeral home for your friend. If a funeral plan was found, you will only need to notify them of the death. If not, make an appointment for your friend and get some general information.
Find out how to obtain extra certified copies of the death certificate if they are needed.
Offer to assist with writing the obituary.
Help with notifying insurance companies, Social Security Administration or pension administrators of the death. Often, they will wish to speak directly to your friend, but you can help by locating telephone numbers, policy numbers and other paperwork.
Organize food for your friend and any remaining family members. Cooking is often the last thing someone wants to think about when they have just lost a loved one; however, eating is necessary. There are online organizations that will even deliver meals purchased by people online.
Offer to take care of any minor children that the decedent may have left behind.
The loss of a loved one can be a very emotionally difficult time.  Small things that are done for surviving family members not only make the planning easier but also express love and support when it is most needed.

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