As a personal representative of the decedent’s will, it falls on you to responsibly carry out the implementation of their will. As the executor, there are also going to be very important legal parameters that will need to be followed.
Part of executing the will is going to filing the estate for the probate process during which you will need to identify and accumulate the assets and determine the value of those assets. Then you’ll need to pay off the decedent’s liabilities and taxes (if any). However, during the process, it is likely that you may have to make certain payments out of pocket, which can be reimbursed later.
Expenses an Executor can have Reimbursed
Expenses associated with funeral and burials: Burial costs and funeral arrangements are the first order business, which the executor will need to pay but can later be reimbursed.
Estate Administration Fees
These expenses include things such as filing fees and expenses associated with the overall probate process.
Professional Fees
Any fees related to professional services such as accountants, appraisers, real estate experts, etc., can also be reimbursed or can be paid using the funds from the estate.
Property Expenses
Any expenses related to a property, such as realtor fees, brokerage, commissions, surveys, maintenance fees, etc., can also be reimbursed or paid out of the estate fund.
As the personal representative of the estate, it is very important to gauge whether the estate fund is big enough to cover all these expenses. If not, you should proactively hire a probate attorney who can help you prioritize more important expenses that need to be taken care of along with the types of expenses that cannot be reimbursed.