Most of the duties of an administrator of estate in Georgia can be summarized under fiduciary duty. A fiduciary is a person or entity responsible for carrying out tasks on behalf of another person, and an administrator of an estate carries the role of a fiduciary. Fiduciary duties require an administrator to behave in the best interest of the beneficiaries while handling an estate according to a testator’s wishes.
Responsibilities of a Georgian Administrator of Estate
While the duties are various and many, most of the tasks and responsibilities of managing and administering an estate can be summed up into a few key words.
Related Blog: I Have Been Appointed as an Administrator or Executor of an Estate. Now What?
Obtain All Necessary Documents
An administrator gathers necessary documents needed concerning the estate. Documents often needed include birth certificates, death certificates and other certified documents, Wills and related legal papers, letters of administration, deeds of trusts, vehicle loans, tax records, marriage certificates, prenuptial agreements, military discharge papers, and more.
Pay Creditors and Estate Taxes
An administrator will need to pay any debts that of the decedent out of the estate. Such debts may include loans, medical expenses, credit card bills, etc. The administrator must also file the decedent’s last income tax return and pay estate taxes, if applicable.
The administrator may not distribute any assets to the beneficiaries before the debts of the estate and expenses of administration are paid. This may require the administrator to liquidate estate assets. If the decedent ran a closely held business or owned income producing properties, the administrator may need to manage those assets until they are liquidated and/or distributed.
Locate and Notify all Interested Beneficiaries
The administrator should keep the beneficiaries up to date on matters pertaining to the estate. For example, if properties must be sold to pay debts, or a beneficiary cannot be located, the administrator should keep beneficiaries informed of those happenings.
Manage and Distribute Assets
Management of the estate may also include appraising the assets of the estate, including business interests, real estate, and valuables like art and jewelry and informing beneficiaries if any assets must be liquidated to pay expenses.
What if an Administrator Fails to Perform Their Tasks?
If an administrator fails to perform their duties, beneficiaries may be able to obtain a court order compelling the administrator to perform their duties or removing the administrator and replacing them with a successor administrator.
If the administrator of a Georgia estate you are interested in has failed to complete their duties, consulting with an estate litigation attorney, like the team at Gaslowitz Frankel LLC, is the best way to determine whether you should take action. Our attorneys have decades of proven experience, and we bring hard-hitting litigation to both the courtroom.
About Gaslowitz Frankel LLC
Gaslowitz Frankel LLC has the compassion and experience to guide beneficiaries toward understanding their unique situation and toward making the best decisions that optimize their outcomes. Our team has the expertise to address concerns beneficiaries have during the litigation process, including the desire to honor the deceased, avoid or minimize the time in court, alleviate stress, and make the best decisions for themselves and their families. Gaslowitz Frankel LLC has the passion and authority required to deliver clients with their ideal outcomes.
Let our attorneys represent you in your estate and trust disputes. Fill out our contact form for a free consultation.
