I was named as the Executor of my loved one's will....now what?

Most of the time, your family member or friend will tell you if they plan to appoint you as Executor or Executrix of their will.  Often, you will also be a beneficiary of their will as well, or at the very least, they will let you know you will be in charge of handling their affairs after their death and where the will is located.  

Once your loved one dies, if you choose to honor the deceased's wishes, you will take a copy of their death certificate and go to the Clerk's office in the county where the deceased lived.

How to become the Executor/Executrix

Unless the Clerk finds good cause not to appoint you (criminal record, conflict of interest, etc), you will be issued Letters of Administration, which appoint you as Executor/Executrix of the decedent's estate.  You will have to submit a preliminary inventory of the decedent's assets as of the date of death, so you will need to be familiar with the decedent's bank accounts, real estate, vehicles, personal property, etc.  This can always be amended, but it's good practice to go in with as much knowledge as possible.  You will take an oath where you promise to carry out your fiduciary duties to the estate.  You may also be asked to pay a bond, depending on what the will provides, which acts as an insurance policy should you violate your fiduciary duties by misappropriating funds.

What it means to be the Executor/Executrix

Once you are given your Letters of Administrations, you now how the ability to collects assets of the estate, pay claims, and distribute monies to the beneficiaries under the Will.  Most of these actions can be handled without prior court approval, but sometimes, selling real estate and various other matters require court approval.  

With these powers, come great responsibility.  You are responsible for noticing creditors of the decedent that an estate has been opened.  You must file an inventory within three months from the date you qualified as Executor/Executrix that shows exactly what assets the decedent had at the time of death.  After you have determined all the assets the decedent had, paid all the claims, and costs of administration, you can request commissions (payment for administering the estate), and then file a final accounting, which shows the Clerk's office the records you kept of all monies coming into the estate and all monies distributed.  The Clerk will determine if your accounting balances, and only discharge you from your duties once the final accounting is approved.  

What if you cannot submit a sufficient final accounting or if you violated your fiduciary duties to the estate?

The Clerk will not discharge you from liability until you can submit a final that will be approved.  The Clerk may require you to attend a show cause hearing where you will be able to give an explanation of why you cannot submit a proper final accounting.  If you do not appear at the hearing or file a final, the Clerk may issue an order for contempt and you could be jailed until you comply with the order.  

Being an Executor/Executrix is a title that is a privilege, because your loved one put that trust in your hands, but it also comes with great responsibility.  There are potentially complicated matters in many estates, and it is advisable to consult an attorney if you are appointed the Executor/Executrix in an estate.