Q. Robert, I have recently been asked to be the executor of the estate of a close relative.  I said I would do it, but I really have no idea exactly what that entails.  Do you have any information regarding this situation?  – Phil in High Point

A. Phil, as an executor of an estate you will have a wide range of responsibilities.  What we usually do is sit down with an executor and try to help them from the point of gathering the needed information and coming up with strategies for the transfer of assets.  I have listed some of the most common tasks for an executor.

• You will need to review and probate the will.
• You will need to prepare and file all necessary estate tax and
• other tax returns.
• Identify all assets including valuing and safeguarding the
• estates assets.
• Pay the deceased’s debts and estate expenses.
• Handle any potential conflicting interest among beneficiaries.
• Distribute the estates assets according to the terms of the will.
• Plan investment strategies for the estate (again this is where we
• are the most helpful).

A great source for information on this topic can be found at www.nccourts.org.  Click on “FORMS” at top of the page and type in AOC-E-850.  It is an eight page pamphlet on the duties of executors in North Carolina.  If you have trouble finding it, just let us know and you can pick up a copy at our office.

Keep the questions coming at rdcooper@globalfinancialpc.com.

If you would like a complimentary consultation with Robert, call the office at 993-2012.

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Robert Cooper, CRPC, RFC 

Investment Advisor Representative

Providing Financial Planning Services in the Triad for Over 20 Years

336-993-2012  •  www.coopercares.com  

935-E Mountain St., Kernersville, NC 27284

Investment Advisory Services Offered Through Global Financial  Private Capital, LLC, an SEC Registered Investment Advisor.

If you would like a complimentary consultation with Robert, call the office at 993-2012.

Robert Cooper and Global Financial Private Capital, LLC do not provide tax or legal advice.  Individuals should seek advice from their own tax or legal counsel for their particular situation.

Any comments regarding safe and secure investments and guaranteed streams refer only to fixed insurance products. They do not refer, in any way to securities or investment advisory products. Insurance and Annuity product guarantees are subject to the claims paying ability of the issuing company, and are not offered by Global Financial Private Capital.