My Job as an Estate Executor is almost over!!!

[audreyh1]

I’m still kind of in shock.

I’ve been executor of DF’s estate for over two year now. I also managed DF’s property and finances since late 2016 when he moved to assisted living. For the estate everything was set up automatically pay on death etc., except that it also contained a substantial farm property and the estate is in a different part of the country from where I live.

Two of the heirs live overseas. The pandemic really threw a wrench into this one as travel was severely restricted until late 2021. It basically meant that dealing with the real estate portion took a very long time. One of the heirs ended up taking possession of the residential portion of the farm which was divided earlier this year, and then we were ready to sell the remaining farm acreage late spring. We finally closed on that sale today at a very good price.

Between my father’s sudden decline and hospice late summer 2019 and dealing with the estate after his passing in 2020, these obligations have tied me down for almost 3 years. It’s been pretty stressful. With the pandemic and siblings stuck overseas DH and I ended up supervising DF’s care until he passed in 2020, even relocating to his property to do so. We really hadn’t been able to plan more than very brief leisure travel etc., during this time, but part of that also was waiting 14 months for our new car!

The silver lining for all this delay (which greatly frustrated the one US based heir) was that the farm land appreciated considerably over what would have been possible in 2020 during the two years while things kept dragging out. The heirs will be paying capital gains taxes! (one of those good bad things). I think the frustrated heir has more than been compensated for the delay.

Anyway, I just felt like sharing. This will be a big change for me that I’ve been almost too afraid to hope for. Pretty much just record keeping and taxes for 2022 left, and those won’t be very onerous, little impact on my personal schedule anymore.

Kind of still in shock, my brain feels a little fried.

 

[Walt34]

Congratulations! (I think.) It's always nice to finally see the end to a long stressful and difficult task, but one you know must be done well.

 

[street]

I’m still kind of in shock.

I’ve been executor of DF’s estate for over two year now. I also managed DF’s property and finances since late 2016 when he moved to assisted living. For the estate everything was set up automatically pay on death etc., except that it also contained a substantial farm property and the estate is in a different part of the country from where I live.

Two of the heirs live overseas. The pandemic really threw a wrench into this one as travel was severely restricted until late 2021. It basically meant that dealing with the real estate portion took a very long time. One of the heirs ended up taking possession of the residential portion of the farm which was divided earlier this year, and then we were ready to sell the remaining farm acreage late spring. We finally closed on that sale today at a very good price.

Between my father’s sudden decline and hospice late summer 2019 and dealing with the estate after his passing in 2020, these obligations have tied me down for almost 3 years. It’s been pretty stressful. With the pandemic and siblings stuck overseas DH and I ended up supervising DF’s care until he passed in 2020, even relocating to his property to do so. We really hadn’t been able to plan more than very brief leisure travel etc., during this time, but part of that also was waiting 14 months for our new car!

The silver lining for all this delay (which greatly frustrated the one US based heir) was that the farm land appreciated considerably over what would have been possible in 2020 during the two years while things kept dragging out. The heirs will be paying capital gains taxes! (one of those good bad things). I think the frustrated heir has more than been compensated for the delay.

Anyway, I just felt like sharing. This will be a big change for me that I’ve been almost too afraid to hope for. Pretty much just record keeping and taxes for 2022 left, and those won’t be very onerous, little impact on my personal schedule anymore.

Kind of still in shock, my brain feels a little fried.

You deserve a break, and I can vouch for the stressful time and the work involved.

Sounds like you and the heirs have benefited so that is some reward for the work put into it.

When my years ended as an executor there was nothing left to distribute to heirs.

 

[disneysteve]

Congrats. I'm sure it will be a big relief to have that responsibility off your plate.


I was the executor for my cousin's estate and that was enough work even though I was the sole beneficiary. I can't imagine the hassles of dealing with multiple beneficiaries. The estate was finally officially closed about 2 weeks ago and my final check from the estate account should be on it's way to me right now. I think the last thing I have to do is settle up any final charges with the attorney and then I should be done. There may be some final tax stuff for this year as well.

 

[audreyh1]

Congratulations! (I think.) It's always nice to finally see the end to a long stressful and difficult task, but one you know must be done well.

Well definitely closing the land sale is worth celebrating!

But I think I have to decompress first, ha ha.

 

[ivinsfan]

Well definitely closing the land sale is worth celebrating!

But I think I have to decompress first, ha ha.

Is there part of you that wishes the family had used a non family professional executor. It seems as though it took a lot out of you. You're a fairly young very intelligent ERd woman. I'm wondering I wonder how I would have managed a task like this. Congrats on getting it done .

 

[Texas Proud]

Congrats on the final part and being free of the job...


I am in a similar boat but without land... my hangup is that I still need to take some of my mom's ashes to Switzerland and some to NJ... with the pandemic I do not want to go overseas...


I did write to my siblings that I was selling the rest of the stocks and keeping what I think I will need for the remaining expenses in a checking account that does not earn anything so I can close out the taxable estate...


Now go enjoy your life.

 

[audreyh1]

Is there part of you that wishes the family had used a non family professional executor. It seems as though it took a lot out of you. You're a fairly young very intelligent ERd woman. I'm wondering I wonder how I would have managed a task like this. Congrats on getting it done .

No, not really. I guess I always saw it as my duty. It would not have been as hard without the pandemic disruptions, but still plenty of work. Very small town and rural area - I’m skeptical that professional services would have handled it well. I don’t think the heirs would have been happy about that either.

It’s probably worth mentioning that this land has been in the family for 5 generations.

 

[audreyh1]

Congrats on the final part and being free of the job...


I am in a similar boat but without land... my hangup is that I still need to take some of my mom's ashes to Switzerland and some to NJ... with the pandemic I do not want to go overseas...


I did write to my siblings that I was selling the rest of the stocks and keeping what I think I will need for the remaining expenses in a checking account that does not earn anything so I can close out the taxable estate...


Now go enjoy your life.

Ashes keep! What’s the rush?

It took us 1 1/2 years before family could gather and bury DF’s ashes next to DM. And wouldn’t you know it, burial coincided with the Jan Omicron peak!

 

[Teacher Terry]

So nice to have it behind you). Sounds like a lot of work.

 

[RobbieB]

Good for you! Now please resume your previously scheduled retirement -

 

[audreyh1]

So nice to have it behind you). Sounds like a lot of work.

It hasn’t really hit me yet. I have been trying not to be too optimistic for so long.

The closing which was supposed to happen at the end of June got delayed several times, initially because surveys took longer, ultimately because several key people took their July vacations and finally because the paperwork just wasn’t ready.

Meanwhile I’m watching the Fed raise interest rates in big jumps and stressing out a bit. But the financing must have been well in hand in early June already.

 

[audreyh1]

Good for you! Now please resume your previously scheduled retirement -

Yeah, that’s the plan!

 

[Car-Guy]

Sounds like quite an ordeal... Glad it's about over for you.

Sounds like it's time to "recharge", and then get on with life's journey. (Sorry, couldn't resist)

 

[ivinsfan]

Five generations wow.That in itself adds several emotions to the mix.I understand you wanted it done right.

 

[ERD50]

Wow, that was a lot to handle. Yes, take some time to decompress, it sounds like you went above and beyond the call.

I've been involved in some of that, but it was mostly much simpler, and that still takes a toll. Dealing with out of state property, and out of country heirs adds a whole 'nother dimension to it. Whew!

It's posts like this that really motivate me to simplify my situation, so that my kids won't have to go through too much effort to settle everything. I'm down to a minimum number of accounts, simple investments, principle residence is the only real estate I own. Still need to update the will/trusts now that the kids are all independent. Someday! I finally got DW to sit down and go over an initial review of our accounts - that went well, will go deeper in a few weeks, and at some point, go over some of this with the kids.

-ERD50

 

[Lsbcal]

Audrey, I thought maybe you were not posting as often here. Or at least in the threads I read. I'm glad for you that things are winding up and you can have more freedom to do enjoyable things. Sorry to hear that you had to go through that with your DF.

Most of us have had to deal with other stressors like pandemic/politics/inflation, etc. But those personal issues are a burden that can really weigh on one.

 

[swakyaby]

My brother who was executor of my mother’s estate when she passed in 2018 shared a letter he received today from the IRS that said the 2019 taxes paid did not add up to their numbers. Said $50K was due, and with late fees and penalties, a total of $74K was due immediately. He has bank proof of payment of $50K, but is emailing the estate attorney who prepared the tax return on what is the best way to respond. DB says this tax stuff never seems to end.

Hope everything truly is over for the OP.

 

[ImThinkin2019]

My brother who was executor of my mother’s estate when she passed in 2018 shared a letter he received today from the IRS that said the 2019 taxes paid did not add up to their numbers. Said $50K was due, and with late fees and penalties, a total of $74K was due immediately. He has bank proof of payment of $50K, but is emailing the estate attorney who prepared the tax return on what is the best way to respond. DB says this tax stuff never seems to end.

Hope everything truly is over for the OP.

Thanks for posting this. I am executor of my brother's estate, sitting on the last $115K non-interest-bearing cash. The accountant told me recently that the IRS was so backed up that we should not distribute the funds yet. (He passed in 2020).

Audrey, thanks for posting your info. We are just starting with my FIL and MIL. He went into the hospital a week ago and she came to live with us. She has dementia and can't live alone.

We are learning how to live with her. It's a full time job for more than one person. Investigating memory care facilities and waiting to see if her husband gets out of the hospital.

 

[Vincenzo Corleone]

I thought you'd been posting less, and missed your insightful posts. I thought you were just enjoying life. I had no idea your father passed away. I'm sorry for your loss, and I'm sorry to hear about your nightmare-ish ordeal.

 

[Midpack]

What a relief, congrats. My sister and I settled DF’s estate as do-executors, he had a trust which helped considerably but it still took 3-4 months and it was somewhat stressful. I can’t imagine having gone through that for years, thank goodness you’re finished!

 

[Dtail]

Congrats on your relief.
I understand this stuff personally, as am still taking care of estate stuff since my father's passing in Feb. Lots of varied stuff, some not entirely anticipated. Will get further relief when it is all done; perhaps 3 more months.

 

[donheff]

Congrats. Now it is time to retire again.

 

[steelyman]

That’s very good news and a very big deal!

 

[marko]

Good for you!!! Just wondering if there was any financial compensation which is not unusual for executors.

I was executor for my uncle's estate and, per his request, received a percentage for my efforts--in addition to my inheritance.