Page 20 - BusinessWest January 20, 2021
P. 20

                  Being in Charge of an
Estate Can Be Unsettling
for a Family Member.
 The person you choose as your Personal Representative to be in charge of your estate (formerly called an executor or executrix) will be responsible for a daunting list of tasks. For a grieving family member, this could represent an unintended burden that requires a wide range of expertise and a potentially huge time commitment.
And if this wasn’t enough, they will often have to contend with pressure from—and disputes with—beneficiaries who are usuallyother family members. The resulting “tug of war” can lead to lengthy delays, sometimes lasting years, and often resulting in the irreconcilable split among surviving family members.
There is a Better Way
Estate Settlement Services from the GSB Wealth Management and Trust Services. We are a team of dedicated professionals who will take away the burden and worries of Estate Settlement and make sure that your estate is managed efficiently and according to your wishes. Call us today to learn more.
(413) 775-8335
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Estate Settlement Tasks
• Entering the Will into probate, and handling other legal requirements.
• Gathering all of the personal property and arranging for support of the family.
• Obtaining appraisals of required property for tax purposes.
• Reviewing real estate records to assure timely payment of taxes and collection of rents.
• Evaluating contracts and leases to comply with all requirements, in- cluding giving necessary notices.
• Investigating and handling all claims against the estate.
• Collecting all life insurance, rents, and other amounts due to the estate.
• Preparing and filing estate and inher- itance federal and state tax returns.
• Paying related estate and inheri- tance taxes.
• Preparing a final accounting of the estate.
• Distributing the estate to the bene- ficiaries as directed by the Will.

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