Estate Property and Debts

As executor, you're responsible for managing the assets and debts of the estate.

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The executor is in charge of safeguarding estate assets and paying estate debts--and as always when other people's money is involved, you're held to the highest legal standards. You must be extremely conscientious when it comes to managing money and property in the estate, because you'll be required to account for all of it when it's time to close the estate. If you can't show where certain items or money went, you could be personally liable for the loss suffered by the estate and the beneficiaries.

Serving as Executor? Nolo Can Help.

Find a local lawyer for advice or handle the estate yourself with nolo's award winning do-it-yourself legal books.

The Executor's Guide

The Executor's Guide

Settle an estate or trust with this all-in-one guide for executors. The Executor's Guide will help you make progress one step at a time through the unfamiliar land of legal procedures and terminology.


The Trustee's Legal Companion

The Trustee's Legal Companion

Learn the ins and outs of being a trustee with this guide for every trust administrator. The Trustee’s Legal Companion shows you exactly how to proceed within the terms of the trust and your state's law.


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