An executor should identify obligations, preserve notices and statements, distinguish estate debts from another person's debts, confirm priority and procedure, and maintain appropriate reserves before paying beneficiaries. A family member is not automatically personally responsible for the decedent's debt.
Build a verified obligation list
Collect mail, statements, contracts, judgments, tax records, mortgage and vehicle records, medical and funeral bills, recurring expenses, and claims received after appointment. Mark disputed, secured, contingent, and time-sensitive items.
Do not pay in arrival order
Estate assets may be insufficient or a claim may be disputed. Applicable law, court procedure, security interests, priority, taxes, administration costs, and available assets can affect payment decisions.
Keep beneficiaries informed without promising distributions
Premature commitments create conflict and risk.
- Document every payment
- Keep estate and personal funds separate
- Preserve claim correspondence
- Confirm authority to settle
- Maintain a reasoned reserve
- Obtain advice before rejecting or preferring claims