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You > Financial Planning Strategies

Estate Administration

Your personal representative or "executor" must be compassionate, responsible and decisive to settle your financial affairs and transfer your estate's assets to beneficiaries. At this time of great loss, complex estate administration tasks may hinder the grieving and healing process your loved ones deserve. Many individuals in our community have turned to CNB for these reasons, naming us to serve in the capacity of executor of their estate.

Consider some of the executor's duties:

  • Working with your attorney to probate your Will
  • Collecting, inventorying, valuing, and protecting the estate assets
  • Paying estate taxes, expenses, and debts
  • Keeping complete and accurate estate transaction records
  • Preparing fiduciary income tax returns and coordinating the decedent's income and estate tax returns
  • Collecting debts owed to the estate
  • Distributing estate assets to heirs according to the Will

It's important to give careful thought to your choice of executor. By naming a professional executor, you can leave a feeling of security and confidence to those surviving you.

 

 

Contact Us

If you would like additional information, please use the contact us form or if you would like to speak with a Financial Services Professional, please call 585.419.0670.   

 

This material is provided for general information purposes only and is not a recommendation or solicitation to buy or sell any particular security, product or service. Past performance is not indicative of future investment results. Any investment involves potential risk, including potential loss of capital. Before making any investment decision, please consult your legal, tax and financial advisors. Non-deposit investment products are not bank deposits and are not insured or guaranteed by Canandaigua National Bank & Trust, or any federal or state government or agency and are subject to investment risks, including possible loss of principal amount invested.

This material is provided for general information purposes only and is not a recommendation or solicitation to buy or sell any particular security, product or service. Past performance is not indicative of future investment results. Any investment involves potential risk, including potential loss of capital. Before making any investment decision, please consult your legal, tax and financial advisors. Non-deposit investment products are not bank deposits and are not insured or guaranteed by Canandaigua National Bank & Trust, or any federal or state government or agency and are subject to investment risks, including possible loss of principal amount invested.