Consider Social Security and other claims. Determine whether the decedent had any unfulfilled contractual obligations or was the recipient of such obligations by other parties. Determine the nature of joint tenancy assets, if any, and consider their inclusion or taxability within the estate. Arrange for transfer of stocks, bonds, bank accounts, and other assets. Distribute the estate in accordance with the Will, or if none, to the heirs, as determined by law.
Financial Duties Keep records of all transactions.
File or assist in the filing of the decedent's final income tax return. File the necessary income tax returns as fiduciary for income and expenses generated during the course of administration. Review decedent's records to determine whether any gift tax returns were or should have been filed. File federal estate tax return where necessary, making such elections as are appropriate. File necessary state estate tax returns.