Heir Asset Recovery Center
Executor Checklist
A comprehensive step-by-step guide for executors and administrators navigating the excess proceeds recovery process on behalf of an estate. Use this checklist to ensure nothing is missed and that the estate's claim is filed correctly and on time.
Phase 1: Initial Investigation
Before committing resources to a formal claim, verify that surplus funds actually exist and that the estate has a viable path to recovery.
1. Confirm the Property Was Owned by the Deceased
Obtain the chain of title from the county recorder's office. Verify that the deceased was the record owner at the time of the foreclosure or tax sale. If the property was held in a trust, confirm the trust's ownership and the successor trustee's authority.
2. Identify the Type of Sale
Determine whether the property was sold through judicial foreclosure, non-judicial foreclosure, tax sale, or another involuntary proceeding. The type of sale determines where the surplus is held and what rules apply to claiming it.
3. Search for Surplus Funds
Use our free search tool and check the county treasurer, court clerk, and state unclaimed property databases. Search under the deceased's name, any variations (maiden name, middle initial), and the property address.
4. Calculate the Estimated Surplus
Subtract the debt (from foreclosure judgment or tax delinquency) from the sale price. Account for fees, costs, and any junior liens paid from proceeds. If the result is positive, surplus exists.
5. Determine Deadlines
Contact the entity holding the funds to determine the statutory deadline for filing a claim. Many jurisdictions impose a 1-5 year deadline from the date of sale or deposit. Mark this date prominently.
6. Identify All Heirs
Locate the will (if one exists) or determine the intestate heirs under applicable state law. Map the complete family tree and identify every person with a potential claim, including those who may be difficult to locate.
Phase 2: Probate And Legal Authority
The executor or administrator must have the legal authority to act on behalf of the estate. If probate has not been opened, it will typically need to be.
7. Locate and Review the Will
If a will exists, locate the original. Determine whether it was previously admitted to probate. If not, you will need to offer it for probate. Review the will for named executor, specific bequests, and residuary clause.
8. Open Probate (If Not Already Open)
File a petition for probate with the probate court in the county where the deceased resided. Include the surplus funds in the estate's inventory. If the property was in a different county or state, determine whether ancillary probate is required.
9. Obtain Letters Testamentary or Letters of Administration
Once the court approves the petition, obtain certified copies of the letters testamentary (if there is a will) or letters of administration (if intestate). These are the documents that prove your authority to act for the estate. Request at least 5-10 certified copies—you will need them for multiple purposes.
10. Obtain an Employer Identification Number (EIN)
Apply for an EIN from the IRS for the estate. This is required to open an estate bank account, file estate tax returns, and receive funds from the surplus claim. The application (Form SS-4) can be completed online in minutes.
11. Open an Estate Bank Account
Open a bank account in the name of the estate using the EIN and letters. All estate funds—including the surplus recovery—should be deposited into this account and disbursed from it. Never commingle estate funds with personal accounts.
12. Provide Required Notices
Most states require the personal representative to publish a notice to creditors and to mail notice to known creditors and heirs. The timeline for creditor claims (typically 3-6 months) must run before final distribution.
Phase 3: Filing The Claim
13. Obtain the Claim Form
Contact the entity holding the surplus (county treasurer, court clerk, trustee) and request the official claim form and instructions. Some jurisdictions require specific forms; others accept a letter with supporting documentation. Confirm what is required before preparing your submission.
14. Prepare the Claim Package
Assemble the claim form, a cover letter identifying the estate and the surplus, certified copy of the death certificate, certified copies of letters testamentary/administration, proof of the property sale (trustee's deed or sheriff's deed), evidence of the surplus calculation, and a proposed order for distribution if required by local rules.
15. Obtain Heir Consents or Joinders
If multiple heirs exist, obtain signed and notarized consents from each heir acknowledging the claim and the proposed distribution. Alternatively, if all heirs join the claim, have each execute the claim form or a joinder document.
16. File the Claim Before the Deadline
Submit the complete claim package to the designated office well before the statutory deadline. Use certified mail, return receipt requested, or file in person and obtain a filed-stamped copy. Retain proof of timely filing.
17. Respond to Requests for Additional Information
The claims administrator may request additional documentation or clarification. Respond promptly and completely. Unanswered requests are the leading cause of claim denials.
18. Monitor the Claim Status
Establish a reasonable follow-up schedule (every 30-60 days) to check on the claim's progress. Keep a log of all communications with the claims administrator, including dates, names, and summaries of conversations.
Phase 4: Receipt And Distribution
19. Receive the Funds
When the claim is approved, the funds will be issued—typically by check made payable to the estate. Deposit the check into the estate bank account immediately and retain documentation of the deposit.
20. Pay Estate Debts and Expenses
Before distributing to heirs, satisfy all allowed creditor claims, pay any outstanding taxes (income tax, estate tax if applicable), and pay administrative expenses (attorney fees, court costs, filing fees, and the personal representative's commission if one is being taken).
21. Prepare a Final Accounting
Prepare a detailed accounting of all estate receipts (including the surplus recovery) and all disbursements. Most states require the personal representative to provide this accounting to the heirs and, in some cases, file it with the court.
22. Distribute to Heirs
Distribute the remaining funds to the heirs according to the will or intestacy law. Obtain signed receipts from each heir. Issue any required tax forms (Schedule K-1 for estate income distributed to beneficiaries, if applicable).
23. Close the Estate
File a petition for discharge or final settlement with the probate court. Once the court approves the final accounting and discharges the personal representative, close the estate bank account and retain all records for at least the period required by state law (typically 3-7 years).
24. Store Records
Maintain a complete file of all estate records: court filings, claim documents, correspondence, accounting, and distribution records. These may be needed for tax purposes, to respond to heir inquiries, or to defend against future challenges.
Pro Tips For Executors
Keep meticulous records. Every phone call, every email, every filing—log it. When questions arise months later, your log will be invaluable.
Communicate regularly with heirs. Regular updates prevent suspicion and reduce the likelihood of disputes. Even if there is nothing new to report, a brief message maintains trust.
Do not comingle funds. Keep estate money in the estate account at all times. Writing estate expenses from a personal account (or vice versa) creates accounting problems and can jeopardize your liability protection as personal representative.
Hire professionals when needed. Probate attorneys, CPAs, and professional fiduciary services exist for a reason. If the estate is complex or if conflict among heirs is anticipated, professional help is a prudent investment.
Important Notice
The National Excess Proceeds Exchange is not a law firm. We do not provide legal advice, representation, or legal services. The information on this page is for educational purposes only. Each situation is unique, and we strongly recommend consulting with a qualified attorney licensed in the relevant jurisdiction.
Start With The Search
Before working through this checklist, confirm that surplus funds exist. Use our free search tool—it takes less than a minute.
Search For Unclaimed Funds