$5.00 for each page of the proof of mailing of the
“Notice of Probate of Will.”
What Comes Next
Following probate, the executor begins the
process of settling the decedent’s financial affairs
and estate. It is the executor’s duty to collect the
assets, (e.g., apply to insurance companies for
proceeds if the estate is the beneficiary) manage
them during administration, such as temporarily
investing cash, keep records (copies of all bills,
check register, statements, etc.), pay debts and
expenses, compute and pay estate, income,
inheritance and any other taxes, then distribute the
estate’s assets to the person or persons entitled,
under the terms of the Last Will & Testament. If
necessary, the executor performs these duties with
the help and advice of professionals such as an
attorney and sometimes an accountant, investment
counselor, and/or real estate consultant. Also, the
executor generally coordinates and assists
beneficiaries of non-probate assets with the
collection (e.g., IRA’s, life insurance, etc.) of these
assets as well as other successors in interest of those
assets, especially when the non-probate assets affect
the death taxes that the executor is responsible for
computing, reporting and paying. Simply because
an asset is not part of the probate estate does not
mean that it is not taxable. In effect, the executor
steps into the shoes of the testator in collecting,
managing and distributing the testator’s assets
during the period of administration.