To save time. We have spent the last decade working in the financial services industry developing an expertise around the administration of an estate’s financial assets. We understand the financial language used by Advisors, Brokers and Agents. We understand the different structures of brokerage and advisory accounts.
We understand the process of navigating financial assets through probate. Most importantly, we understand the intricacies that are required to facilitate the asset consolidation and distribution of the estate’s financial assets. In most scenarios, the first time people interact with an estate is when they are named executor. Our experience and understanding of the Estate process allows us to execute a consolidation or distribution plan at a much faster pace, while allowing you to focus on the many other responsibilities of an executor.
To save money. The cost of settling the financial asset component of an estate is often less than an estate attorney’s hourly rate.
No. Third Executor DOES NOT provide or offer legal advice.
No. Third Executor DOES NOT offer investment advice or act a custodian to the financial assets.
Third Executor will work with you as long as it takes to thoroughly identify, locate and review the structure of every financial asset subject to probate. Every client has a unique financial situation; therefore, a generic consultation time is not applicable. Each Third Executor consultation is customized to the individual client’s needs.
Third Executor Consultation is on a “Per Household” basis, meaning the consultation includes everyone who lives under one roof. For example, if you and your wife have separate financial assets, a Third Executor consultation will include both sets of assets for a one time consultation fee.
Financial assets of a decedent’s estate include, but are not limited to, brokerage accounts, advisory accounts, retirement accounts, life insurance policies, annuity contracts, and bank accounts.
General Estate Questions
Generally, the following documents are required to settle the financial asset component of an estate:
- Death Certificate (Certified Copy)
- Letter’s Testamentary
- Affidavit of Domicile
- Executor / Personal Representative’s ID
- Tax ID or Employer Identification Number (EIN) of the Estate
Probate is the process of proving that a Will is valid. During probate, the Will is proved to the satisfaction of the court that it's the Last Will and Testament of the person who died. Once the Surrogate (the judge in Surrogate's Court) is convinced of the validity of the Will, the Executor named in the Will is appointed to distribute the estate and carry out the wishes of the person who died. The Surrogate's Court oversees this process.
Letter’s Testamentary are certified documents that prove you have the legal authority to act on behalf of the estate to begin the process of paying bills, filing tax returns, managing and distributing assets, dealing with beneficiaries, and opening or closing bank accounts. Letter’s Testamentary are issued after a Will is validated by the Surrogate Courts.
You can apply for an EIN online here.
In most instances, the funeral director will obtain the death certificate for you. You can also obtain them through the appropriate office in your state, which may be the county clerk’s office or the state department of vital statistics.
The fee for a death certificate varies by state, but expect to pay anywhere from $20 to $50 per copy.