You were recently named the executor of a friend or loved one’s will. Now what? Well, hopefully the day you will have to serve does not come for a long time (*fingers crossed*), but when it does, use these three tips to start off on the right foot.
1. Get Qualified as Executor
No better way to stumble out of the gate than to attempt to assume the role of Executor without being qualified by the Clerk of Court first. Banks won’t talk to you, the DMV turns you away. What’s a new Executor to do? First, find the original Will and obtain a copy of the death certificate and submit them to the Clerk of Court with an Application for Probate and Letters Testamentary, along with the requisite filing fee and the Oath/Affirmation form. You’ll be granted Letters Testamentary – the legal authority to act on behalf of the Estate. Get a few extras (five are included and every additional one after that are only $1).
2. Open an Estate Account
Either consolidate existing accounts or open a new account just for the Estate. You’ll also need to obtain a EIN for the Estate, for any income/interest generated while the Estate is open. Opening the Estate Account will give you a place to deposit last pay checks, tax returns, proceeds of assets, etc. It will also give you liquid assets to distribute should there be specific distributions of cash set out in the Will.
3. Get Organized
It’s best to treat and Estate like a business – it needs to have thorough and accurate records, including all expenditures and claims made by creditors. The Clerk will take issue with a sloppy accounting and may delay the closing of the Estate or the approval of the Final Accounting should there be unaccounted for expenditures/distributions or creditor claims that were not accounted for. Get a copy of everything – car titles, bank statements, stock certificates, deeds, etc.
Good luck. And if you need to, don’t hesitate to seek legal counsel to help navigate the process. The attorney’s fee is an expense of the Estate – not generally one incurred by the Executor.
Author Bio
Paul Yokabitus
Founder & Estate Planning Lawyer
Paul Yokabitus is the founder of Cary Estate Planning, where he helps North Carolina families protect what matters most through wills, trusts, probate, and special needs planning. Known for his “planning, not paperwork” approach, Paul turns complex legal concepts into clear, practical strategies so clients feel informed and confident at every step. He has been recognized as a Business North Carolina Legal Elite attorney and a Super Lawyers Rising Star, and was named to the Triangle Business Journal’s 40 Under 40. A graduate of Campbell University School of Law, Paul lives in the Triangle with his wife, Alix, and their two sons.
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How We Help North Carolina Families
Paul and his team at Cary Estate Planning are fully committed to creating a personalized experience to develop thorough and comprehensive estate plans. They value their clients and go above and beyond to make sure that no details are missed. I would highly recommend Paul to anyone looking to create an estate plan.
I was referred to Paul by my Real Estate Attorney and I could not say enough about how exceptional the client service has been from everyone I spoke to. The communication is prompt and I feel like they really took the time to answer all my questions and set things up exactly as I wanted, but also recommended things to make it easier on my family down the line.
After attending one of Paul’s estate planning seminars, my husband and I knew we wanted Paul to assist us with our estate planning. His honest, professional approach to this necessary part of life put us at ease with the process. We will continue to recommend Paul and Cary Estate Planning.
We had a great experience working with Paul Yokabitus and the team at Cary Estate Planning to set up our Will and Estate Plan. The process was clear and easy, and in the age of COVID, our signing session was very well done, easy, and safe.
The Cary Estate Planning team will make sure that you have the information you need to be confident in your estate planning decisions. I learned so much from videos, a one-on-one in-person consultation, the website, emails, and a newsletter mailed the old fashioned way. The fee is very reasonable given the importance of estate planning. No matter the size or number of your assets, don’t procrastinate like I did!
Paul is a masterful attorney. He’s very good at taking your intentions and defining that into a durable Trust and Will. Best of all he is as simple and plain-spoken as you like. Or as fast as intellectual as you may be. It’s all about your your speed and your desired outcomes. Would strongly recommend this firm.
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