Estate and Probate Attorney in Cincinnati Ohio » heirs http://www.ohioprobateanswers.com Cincinnati Probate Attorneys: Elliott Stapleton, D. Todd Rush, and John Cornetet Thu, 05 Jan 2017 20:48:57 +0000 en-US hourly 1 https://wordpress.org/?v=4.2.39 Powers and duties of the Executor/Administrator http://www.ohioprobateanswers.com/executors-administers/powers-and-duties-of-the-executoradministrator/ http://www.ohioprobateanswers.com/executors-administers/powers-and-duties-of-the-executoradministrator/#comments Tue, 29 Mar 2011 08:40:15 +0000 http://032b5f3.netsolhost.com/wordpress/?p=69 Read more]]> An executor or administrator of an estate is the person who is responsible for the administra­tion of the estate. They must identify and evaluate the assets. They must identify and pay all bills.  They are re­sponsible for selling the assets that need to be sold and all tax filings for the decedant and the estate. Finally, the executor distributes the as­sets in accordance with the terms of the will or state law if there is no will.

The executor/administrator also agrees to:

  • Give notice of the admission of the will to the heirs and beneficiaries
  • Make and file an inventory with the Probate Court
  • Deposit all funds in an estate account and to keep all records
  • Keep estate funds separate
  • Invest all funds in a lawful manner
  • Make and file a distributive and final account with the Probate Court
  • File all tax documents required by law
  • Maintain insurance on the estate assets
  • Obey all Court orders
]]> http://www.ohioprobateanswers.com/executors-administers/powers-and-duties-of-the-executoradministrator/feed/ 0 Notice to the Heirs http://www.ohioprobateanswers.com/opening-estates-with-wills/notice-to-the-heirs/ http://www.ohioprobateanswers.com/opening-estates-with-wills/notice-to-the-heirs/#comments Tue, 29 Mar 2011 08:34:56 +0000 http://032b5f3.netsolhost.com/wordpress/?p=58 Read more]]> In order to give each beneficiary of the will and the heirs at law the opportunity to contest the will, each has to receive a copy of the will by certified mail or must waive notice in writing.  Once all have received notice or waived notice of the filing of the will, the three month will contest period starts.  If the will is not contested within this time period, it is valid.

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