An executor makes disbursements (payment of money) at the completion of the estate administration process to the beneficiaries outlined in the last will and testament. The payment is typically the final to be made from the estate bank account as there should be no final expenses at this stage of the estate administration. In some cases, a small percentage of the disbursement will be made early in the process if a beneficiary makes the case of the financial need. If an early disbursement is made the executor should consult with all beneficiaries and check laws in their jurisdiction to make sure they are not personally liable if the estate does not have sufficient funds at the conclusion of the process.
What you need to know
What to do when a loved one dies
When people die, they leave behind a life that must be closed out. Don't tackle it all alone. From planning the funeral to tackling the legal & financial estate, here's an ultimate checklist of all the things an executor needs to do following the loss of a loved one.
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