Thus, you should take steps to organize correspondence and other paperwork, keep records of all financial transactions, calendar key deadlines and review checklists to monitor the progress of the estate settlement. This section provides practical tips on addressing these matters. Assembling the documents One of the first steps any executor should take is to obtain and review, with legal counsel if necessary, all the pertinent legal documents that may affect the estate. These may provide important information as to burial requests, funeral services and so on. Powers of attorney.
Powers lapse on death.
However, if a third party in good faith and without notice of death completed a transaction under the authority of the power of attorney, it may still be valid. If any significant transactions were completed near the time of the decedent's death, you may want to investigate them. This is usually the primary document governing the estate. Revocable living trust. If a revocable living trust exists then the trust, in combination with the will, should govern most transactions.