Joe P
Favorite Answer
You would gather the information regarding their assets, such as real estate, investments, life insurance, bank accounts, etc. And you would make a list of creditors such as banks, credit card companies, etc and how much is owed to each. You would be responsible for paying the creditors, consulting an attorney regarding any taxes due on the estate, and carrying out the provisions of the will, if one exists. If there is no will, you would be carrying out the disposition of assets in the manner dictated by law in your state. Most people would have an attorney help them with most if not all of these responsibilities. The estate would be responsible for paying the attorney fees.
Anonymous
You will work with the Lawyers to make sure your parents estate is distributed in close accordance with their wishes. Hopefully they both die in quick succession. If they do not, once one dies, the vultures will swoop in and try to get the surviving spouse to change the will.