Estate Administration

Our estate administration professionals will work with you and your family to understand your needs and ensure that your wishes are followed. The complexity of today’s typical estate make the role of executor a real burden on a surviving spouse, a relative, a business associate or anyone without the skill, experience and time to properly administer the financial affairs of a decedent.

Executor

It was once common to think of executorship as merely an “honorary” office, without any real duties or responsibilities. However, in an estate of even modest proportions, the executor or “personal representative” must:

  • Locate, inventory and safeguard all estate assets, and establish values for tax and accounting purposes
  • Provide continuing management for all investment assets, including income-producing real estate and business interests
  • Pay funeral expenses, legitimate claims of creditors and expenses of administering the estate
  • Collect all debts owed to the decedent and be prepared to defend the estate against invalid or improper claims
  • Assume responsibility for all estate, inheritance, income or gift tax returns required by state or federal authorities
  • Keep detailed records of all income, expenses and estate transactions, and render accounting to the court or to beneficiaries
  • Distribute the estate in accordance with the provisions of the decedent’s will and/or trust agreements 

The modern executor needs the skills of an accountant, bill collector, investment advisor and tax expert. At Talmer Bank and Trust, we maintain a team of specialists who have those skills and experience in the prompt, efficient and economical administration of estates.

When we are named in a will as executor, a capable and experienced trust administrative officer assumes personal charge of the estate, acting as a vital link for the decedent’s family. This trust officer is always available to answer inquiries or to discuss the progress of estate administration with the beneficiaries. He or she combines a sympathetic understanding of the estate and answers questions that may arise with a technical competence that few individual executors possess.