Kyann M. says, "My father passed away, and I became the executor of his will. He was married to my stepmother when she left him in June 2020 because he had dementia, and she didn't want to take care of him anymore. They lived in El Paso, and we filed for a partition agreement, which is like a legal separation in Texas.
I had his power of attorney and took care of all the bills, and was also named his executor. Later, I realized how unprepared I was for being an executor. I think it would be so helpful for you to explore in an upcoming podcast preparing to care for elderly parents and what to expect if you have to take over their estate. It's certainly been an eye-opener."
Kyann's question hit home because my father recently died, and my family had to deal with his estate and the probate court, even though he had a will. Handling an estate can be complicated and even more stressful because you're simultaneously grieving for a loved one.
The estate and probate laws vary significantly depending on the state where you die, but typically allow plenty of time to complete the necessary paperwork. However, depending on the size of the estate and any outstanding legal issues, going through probate can take over a year. So, it's wise to get started as soon as you're ready to face it.
In many cases, you need the advice of an attorney or should hire one to help you navigate the probate court. So I interviewed Lauren Blair, an attorney, writer, and litigation expert for FreeAdvice.com, who's practiced law for more than 25 years. Her article Personal Representative' Duties–What Are They? covers frequently asked questions about being named a personal representative, executor, or executrix, that everyone should know.
The Right Way to Talk to Your Aging Parents About Their Money
Lauren and I had a great conversation to answer Kyann's question and help Money Girl listeners understand the often complex legal...
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