A woman named as an executrix in a will is responsible for what?

Prepare for the North Carolina Broker Reciprocal Exam. Sharpen your skills with flashcards and multiple-choice questions. Each question offers explanations to ensure clarity and understanding. Get ready to excel!

The role of an executrix is extensive and encompasses several key responsibilities related to the management of a deceased person's estate. The correct answer indicates that the executrix is responsible for managing the deceased's assets, filing taxes for the estate, and distributing property to the heirs.

Managing the deceased's assets involves taking inventory of all property and financial holdings, ensuring that they are protected and maintained during the probate process. This may include handling real estate, bank accounts, and personal property.

Filing taxes for the estate is another critical duty, as the executrix must ensure that any required tax returns are completed and submitted, including income taxes for the year of death and any estate taxes that may be applicable.

Finally, the executrix is tasked with distributing property to the heirs as specified in the will, guiding the estate through probate to ensure that the deceased's final wishes are honored in accordance with state laws.

Together, these responsibilities make the role of an executrix comprehensive, justifying why the correct answer encompasses all of these tasks.

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