Answers To Frequently Asked Questions About Pennsylvania Estate Administration
When you’re dealing with the estate of a loved one, you are naturally going to have many questions about the process. With Pennsylvania probate and estate law being what it is, you don’t have the luxury of guessing and hope. You need answers from an attorney you can trust.
At Douglas, Joseph & Olson Attorneys At Law, we have built a reputation across Hermitage and Jamestown as trusted, thorough and knowledgeable estate planning attorneys. Our estate administration practice helps families and individuals in Mercer County, Crawford County and the surrounding areas of Pennsylvania to resolve the issues ahead of them with skill and confidence. We are good listeners and thoughtful problem solvers, and you can be sure that when you come to us, you will be heard and you will find answers to your most pressing questions. Below, we’ve provided answers to some of the questions we get asked most often.
What does the executor do during probate?
If you are an executor, your duties are to carry out the instructions of the will and resolve the debts and bills of the estate. In this position, you act as a fiduciary, meaning you can be held personally liable for missteps or personal enrichment at the expense of the estate. Each action you take must be in the best interests of the estate and its beneficiaries.
Will I receive a fee?
As an executor, you may take a fee for the work you do. Most states have set statutory guidelines around the schedule of fees, but Pennsylvania is a little different. Overall, the fee you may take will depend on the size of the estate.
What is ‘executor’s accounting?’
Executor accounting is not the same as financial accounting. It is the list of duties and actions taken by the executor throughout their service to the estate. It is a vital document that you would submit to the court upon the completion of your duties.
We’re Here To Get You Answers – Reach Out Today
Ultimately, your decisions as executor are going to be on you, and you will have to stand by them. But you won’t have to stand alone, and you won’t have to make uninformed decisions. Our estate planning lawyers will work hard to ensure your work stands up to scrutiny.