Read the Will: Carefully review the will to understand the decedent’s wishes regarding asset distribution.

Intestate Succession: If there is no will, familiarize yourself with state intestate succession laws, which dictate how assets should be distributed.

Complete Inventory: Create a detailed inventory of all the estate’s assets, including real estate, personal property, bank accounts, investments, and debts.

Appraise Assets: Obtain professional appraisals for valuable assets to determine their fair market value.

Pay Debts: Ensure all valid debts and liabilities of the estate are paid before distributing assets. This includes funeral expenses, medical bills, and any outstanding loans.

File Tax Returns: File the final income tax return for the decedent and any necessary estate tax returns. Pay any taxes owed by the estate.

Interim and Final Accounting: Prepare and submit an interim accounting to the probate court if required, detailing all transactions, expenses, and proposed distributions.

Court Approval: Obtain the court’s approval for the final distribution plan, especially if required by state law or the terms of the will.

Notify Beneficiaries: Inform all beneficiaries about the progress of the estate administration and the planned distribution of assets.

Transparency: Maintain clear and open communication to manage expectations and reduce the risk of disputes.

Distribution Deeds: Prepare deeds or transfer documents for real estate and other titled property.

Receipts and Releases: Have beneficiaries sign receipts and releases acknowledging they have received their inheritance.

Specific Bequests: Distribute personal property items according to the will’s specific bequests.

Fair Division: For remaining personal property, consider fair methods such as drawing lots, holding an auction among beneficiaries, or reaching a mutual agreement.

Liquidate Assets: Liquidate estate assets if necessary to generate cash for distributions.

Pro Rata Distributions: Distribute cash to beneficiaries according to their share of the estate, as specified in the will or by state law.

Bank Accounts and Investments: Work with financial institutions to transfer ownership of bank accounts and investment accounts to the beneficiaries.

Retirement Accounts: Follow the beneficiary designations for IRAs, 401(k)s, and other retirement accounts, ensuring compliance with tax rules.

Deed Transfer: Prepare and record deeds transferring real estate to the beneficiaries.

Sale of Property: If the will directs or if beneficiaries agree to sell real estate, handle the sale and distribute the proceeds.

Final Accounting: Prepare a final accounting of all estate transactions and distributions.

Court Approval: Submit the final accounting to the probate court for approval and request an order to close the estate.

Discharge as Executor: Once the court approves the final accounting, request a discharge from your duties as executor.

Equal Shares: Distributing assets equally among beneficiaries may be straightforward, but it might not always be fair.

Fair Considerations: Take into account the specific needs and circumstances of each beneficiary, especially if the decedent expressed a desire for fairness over equality.

Mediation: Consider mediation to resolve disputes among beneficiaries.

Legal Advice: Consult with an estate attorney to handle legal disputes or complex situations.

Beneficiaries’ Taxes: Inform beneficiaries about potential tax liabilities, such as capital gains taxes on inherited property or income taxes on retirement account distributions.

Estate Taxes: Ensure all estate taxes are paid before making distributions.

Guardianship or Trusts: Establish guardianship or set up trusts for minor beneficiaries to manage their inheritance until they reach the age of majority.

Charity Verification: Verify the legitimacy of charitable organizations named in the will.

Tax Benefits: Understand and leverage potential tax benefits for charitable donations.

Businesses: If the estate includes a business, determine whether it will be sold, transferred to a beneficiary, or managed by a third party.

Unique Assets: Handle unique assets like artwork, collectibles, or intellectual property with the help of specialized appraisers or advisors.