A Practical Guide to Executor and Trustee Services
At Jay Johnson Law Firm in Tennessee we assist families and personal representatives with executor and trustee responsibilities for estates and trusts in Banner Hill and surrounding Unicoi County. Whether you have been named to manage a decedent’s estate or to administer a trust, our team provides clear guidance on the legal and administrative steps required. We focus on helping clients understand deadlines, required filings, creditor notifications, asset transfers and tax matters while maintaining open communication. Call 731-206-9700 to discuss your situation and learn how we can help you manage these duties in a calm and organized way.
Serving Banner Hill residents, Jay Johnson Law Firm helps navigate the probate and trust administration process from start to finish. Many personal representatives and trustees find the responsibilities overwhelming; we provide straightforward explanations of what must be done, assist with document gathering, prepare necessary court filings when required, and coordinate with banks and other institutions. Our approach emphasizes practical solutions tailored to the size and complexity of each estate or trust. We aim to reduce delays and confusion while protecting the interests of beneficiaries and the person appointed to carry out the decedent’s or settlor’s wishes.
Why Executor and Trustee Services Matter to Your Family
Properly managed executor or trustee services ensure that a deceased person’s estate or a living trust is administered according to legal requirements and the decedent’s wishes. Careful administration protects assets, addresses creditor claims, and satisfies tax obligations while providing accountability to beneficiaries. Timely handling of notices, inventories and distributions can prevent costly delays and disputes. For trustees, following the terms of the trust and maintaining accurate records preserves trust assets and relationships among beneficiaries. Overall, thoughtful administration delivers legal compliance and practical peace of mind during a stressful time.
About Jay Johnson Law Firm and Our Approach to Administration
Jay Johnson Law Firm represents clients in estate planning and probate matters across Tennessee with a focus on clear communication and responsive service. We work with personal representatives, trustees, beneficiaries and family members to identify priorities, assemble required documentation, and complete necessary filings in state courts when appropriate. Our practice emphasizes practical problem solving, timely follow through and careful record keeping so that clients know what to expect at each stage. We treat every matter with respect for the family’s needs and the legal duties involved while keeping clients informed throughout the process.
Understanding Executor and Trustee Services: Scope and Duties
Executor and trustee services cover a range of legal and administrative duties that arise after a person dies or when a trust is being administered. Tasks often include locating and securing assets, preparing inventories, notifying heirs and creditors, paying valid debts and taxes, managing property during administration, and distributing remaining assets according to a will or trust. In some cases court involvement is necessary to obtain authority to act or to resolve disputes. Trustees must also follow trust terms, manage investments prudently, and provide accountings to beneficiaries. Each role carries clear legal responsibilities that should be handled with care.
Timeframes and complexity vary depending on the estate or trust. Small estates with clear instructions can move through administration quickly, while estates with real estate, business interests, complex assets or disputes may require extended attention. The probate process in Tennessee includes specific filing requirements and deadlines, and tax filings may be necessary at both state and federal levels. Working with counsel helps ensure forms are completed correctly, notices are made in accordance with statutory requirements, and distributions are carried out in a manner that reduces the chance of later challenges.
Key Terms Defined: Executor, Trustee and Probate Explained
An executor is the person named in a will to administer an estate after death, carrying out the decedent’s directions and managing the distribution of assets. A trustee is the person or entity appointed under a trust document to hold and manage assets for beneficiaries according to the trust’s terms. Probate is the legal process used to prove a will, appoint a personal representative when necessary, and oversee administration of an estate under court supervision. Each role involves legal duties, record keeping, and sometimes court filings, all intended to ensure assets are properly handled and transferred to the rightful recipients.
Core Elements and Typical Processes in Estate and Trust Administration
Administration commonly begins with an intake to identify the will or trust, locate assets and determine whether probate or trust administration is required. Important tasks include securing property, preparing an inventory, notifying heirs and creditors, valuing assets, paying legitimate debts and taxes, and distributing the remaining property. Where court oversight is required, filings will be made to establish authority to act and to report actions taken. Trustees must manage ongoing assets and provide accountings. Clear documentation and transparent communication throughout the process supports sound administration and can help avoid later disputes.
Important Terms to Know for Executors and Trustees
This glossary highlights terms you will encounter during administration: roles such as executor and trustee, documents like wills and trust instruments, formal filings used in probate courts, and procedural concepts such as inventories, creditor notices and final accountings. Understanding these terms helps demystify the process and clarifies responsibilities. Knowing what each document or action means allows personal representatives and trustees to make informed decisions and meet legal duties. If questions arise about any term or task, an early consultation can provide tailored clarification for your situation.
Executor
An executor is the individual named in a decedent’s will who is charged with carrying out the directions of the will and managing probate administration. That role includes collecting assets, securing property, providing notice to creditors and beneficiaries, inventorying estate assets, paying valid debts and taxes, and distributing the remaining property to the beneficiaries according to the will. The executor may be required to file documents in probate court to obtain authority to act. The position carries fiduciary duties, which means the executor must act honestly, keep clear records, and put the estate’s interests ahead of personal gain.
Trustee
A trustee is the person or entity that holds legal title to trust assets and administers those assets for the benefit of designated beneficiaries under the terms of a trust document. Trustee duties often include managing investments, making distributions in accordance with the trust terms, maintaining accurate records, communicating with beneficiaries, and preparing accountings when required. Trustees are bound by fiduciary obligations to act in the beneficiaries’ best interests, follow the trust terms faithfully, and avoid conflicts of interest. Trust administration may proceed outside of court unless disputes arise.
Probate
Probate is the legal process through which a will is proven valid and a personal representative is appointed when necessary to administer a decedent’s estate under court supervision. Probate typically involves filing the will with the appropriate county court, providing notice to heirs and creditors, assembling and valuing assets, paying valid debts and taxes, and distributing remaining assets to heirs or beneficiaries. The process includes required filings and timelines that vary by state, and the court may require reports or accountings before closing the estate. Probate exists to provide an orderly transfer of assets and legal transparency.
Letters Testamentary and Letters of Administration
Letters Testamentary and Letters of Administration are documents issued by the probate court that formally authorize a personal representative to act on behalf of the estate. Letters Testamentary are issued when there is a valid will and a named executor; Letters of Administration are issued when there is no will or when the named executor cannot serve. These letters are often requested by banks, title companies and other institutions as proof of authority to access accounts, sell property or otherwise manage estate affairs. They serve as official recognition of the representative’s power to act.
Comparing Limited Administration and Full Administration Options
When considering how to proceed after a death, individuals may choose between a limited, simplified approach and a more comprehensive administration. A limited approach can be appropriate for small estates with straightforward assets and no disputes, allowing a faster distribution without extensive court involvement. A comprehensive approach is often necessary for larger estates, those with complex assets, trusts, potential creditor claims or family disagreements. Choosing the right path depends on asset type, estate size, legal obligations and family dynamics. We help clients evaluate the options and recommend a path that aligns with legal requirements and practical needs.
When a Simplified Administration May Be Appropriate:
Small Estates with Clear Paperwork
A limited or simplified administration may work well when the estate’s assets fall below statutory thresholds and the decedent left clear instructions. If there are few bank accounts, no real estate or business interests, and beneficiaries agree on distribution, informal settlement outside of extensive court proceedings can be efficient. In such situations, completing required notifications, gathering necessary documents, and transferring assets directly to beneficiaries can resolve the matter quickly. Even with a simple estate, following proper legal steps prevents future disputes and ensures creditors and tax obligations are addressed.
Minimal Creditors and No Contested Claims
When creditor claims are unlikely or easily resolved, and beneficiaries do not contest the distribution plan, a limited approach may be suitable. This avoids prolonged court timelines and reduces administrative costs. Nonetheless, even in straightforward cases, it is important to document actions taken, confirm balances and obtain releases when possible. Proper documentation protects the personal representative or trustee from later claims. When questions arise about potential liabilities or undocumented assets, reassessing the approach early prevents complications down the road.
When Full Administration and Legal Oversight Are Advisable:
Complex Asset Portfolios and Business Interests
Full administration is often required when estates include real property, business interests, retirement accounts with complicated beneficiary designations, or closely held assets that require valuation and management. These assets may necessitate appraisals, coordination with business partners, or additional filings. Thorough administration provides a structured path for handling such matters, ensuring deadlines are met, valuations are supported, and transfers occur in an orderly manner. This careful approach reduces the risk of errors that can delay distribution or expose the representative to personal liability.
Disputes Among Beneficiaries or Significant Creditor Claims
When beneficiaries disagree about distributions, when an inheritance is contested, or when there are substantial creditor claims or tax issues, comprehensive administration with court involvement may be necessary. Formal procedures ensure notice to interested parties, provide an adjudicative forum for disputes, and create a clear record of actions taken. In such cases, professional guidance helps navigate court requirements, prioritize claims correctly, protect estate assets during litigation or negotiation, and work toward a resolution that complies with legal obligations and the decedent’s written wishes.
Advantages of a Thorough, Diligent Administration
A comprehensive administration brings careful attention to detail, timely compliance with legal requirements and a structured plan for resolving claims and distributing assets. By documenting each step—inventorying assets, notifying creditors, filing necessary returns, and preparing accountings—administrators create a transparent record that protects them and the estate. This approach can reduce the likelihood of later challenges and support smoother settlement of financial and tax matters. Beneficiaries often find confidence in a methodical process that shows the estate was handled with care and legal accountability.
Comprehensive administration also ensures that complex assets receive appropriate handling, that valuations are completed when necessary, and that ongoing trust obligations are met. Trustees who maintain clear records and communicate regularly with beneficiaries reduce misunderstandings and foster trust. Addressing potential tax liabilities proactively and following court procedures when required minimizes exposure to penalties and delays. Ultimately, the goal of a comprehensive approach is to resolve the estate or trust in a way that honors the decedent’s or grantor’s wishes while protecting those who serve in fiduciary roles.
Ensuring Legal Compliance and Regulatory Filings
A thorough administration ensures that all required filings and notifications are completed correctly and on time. This includes submitting probate court documents, sending creditor notices, and preparing income and estate tax returns where applicable. Proper filing avoids unnecessary penalties and supports a transparent record for beneficiaries and the court. When steps are followed precisely, institutions such as banks and title companies are more likely to cooperate, enabling smoother access to accounts and transfers of property. This reduces delays and helps finalize matters efficiently.
Reducing Personal Liability for Representatives and Trustees
By keeping accurate records, obtaining necessary court approvals and following statutory procedures, personal representatives and trustees can lower their exposure to later claims of mismanagement. Documenting decisions, communications and distributions creates a defensible trail that demonstrates care and fidelity to the estate or trust’s terms. Where disputes arise, having followed a comprehensive process positions the administrator to show that duties were performed in good faith and in accordance with legal requirements. This can prevent extended litigation and protect both the fiduciary and the estate’s assets.
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Practical Pro Tips for Executors and Trustees
Organize Important Documents Early
Begin by collecting the decedent’s or settlor’s key records: wills, trust documents, deeds, bank and investment statements, insurance policies, retirement account information, and recent tax returns. Secure physical and digital assets to prevent loss or unauthorized access. Create a central file or digital folder and note contact information for financial institutions and anyone who may have relevant information. Early organization speeds the inventory process and helps identify assets subject to distribution or claims. It also provides a clear starting point for communications with beneficiaries and any professionals involved.
Keep Clear Communication with Beneficiaries
Maintain Detailed Records and Accountings
Keep comprehensive records of all transactions, notices, receipts, valuations, and distributions. Maintain a running accounting that shows funds received, expenses paid, and distributions made. Proper record keeping protects the personal representative or trustee and ensures transparency for beneficiaries and the court, if required. Accurate records are essential for preparing final accountings and tax filings, and they help resolve disputes by providing a clear chronology of actions and decisions taken during administration. Good records shorten the path to closing the estate or trust.
Reasons to Use Professional Executor or Trustee Services in Banner Hill
Individuals or families may consider engaging professional assistance when they are unfamiliar with probate or trust procedures, when estate assets are complex, or when beneficiaries are dispersed and communication will be challenging. A professional approach can streamline processes such as asset valuation, creditor notification and tax filing, reducing the administrative burden on a grieving family. Seeking guidance early in the process helps identify potential problems, ensures statutory deadlines are met, and often speeds the resolution of the estate or trust settlement for the benefit of all involved parties.
Another reason to consider these services is the desire to reduce personal liability and avoid inadvertent mistakes. Personal representatives and trustees face legal duties and timelines that, if missed, can create personal exposure. Professional assistance helps ensure accurate documentation, timely filings and appropriate handling of claims and taxes. When family relationships are tense or when disputes are possible, a measured, documented approach supports fair treatment of beneficiaries and can help preserve family relationships through neutral, documented administration.
Common Situations That Require Executor or Trustee Support
Typical circumstances include the death of a loved one when a will or trust must be administered, appointment of a trustee under a living trust, or handling assets that require court approval before transfer. Other common triggers are creditor claims, outstanding tax matters, ownership interests in businesses, or real estate that must be sold or transferred. In many of these situations professional guidance helps identify obligations and options, coordinate necessary filings and communications, and produce a clear plan for completing administration with attention to both legal and family considerations.
Administration After a Family Member’s Passing
When a family member dies, the named personal representative or trustee must begin the process of securing assets, locating the will or trust, notifying beneficiaries and creditors, and determining whether probate is required. These tasks often happen during a difficult emotional time and can be overwhelming without guidance. Professional assistance provides a steady procedural framework, helping ensure notices are timely, assets are protected from loss, and distributions are handled in accordance with the deceased person’s documented wishes and applicable law.
Managing a Trust for Ongoing Beneficiary Needs
Trust administration may be necessary when a living trust becomes active due to incapacity or after death, or when ongoing distributions are required for education, health needs or other beneficiary support. Trustees must interpret the trust terms, make distributions consistent with those terms, manage investments prudently, and keep beneficiaries informed. Professional assistance helps trustees balance immediate needs with long-term preservation of trust assets and provides record keeping and accounting that clarify how trust funds are being used.
Addressing Disputes, Creditors or Tax Concerns
Disputes among heirs, contested wills, significant creditor claims or complex tax situations often make professional involvement necessary. Proper legal processes ensure notice to interested parties and give the court a forum to resolve competing claims. Addressing creditor and tax matters correctly protects the estate from penalties and helps ensure valid creditor claims are prioritized and resolved. When disputes arise, careful documentation and adherence to statutory procedures help preserve estate value and support an equitable resolution.
Executor and Trustee Services for Banner Hill and Unicoi County
Jay Johnson Law Firm is available to assist Banner Hill residents with estate and trust administration matters, offering clear explanations, practical strategies and hands-on support. We help personal representatives and trustees understand deadlines, prepare court filings when needed, coordinate with financial institutions and prepare accountings. Our goal is to reduce administrative burden and provide a well-documented path to closing the estate or trust. To discuss a probate or trust matter in Banner Hill, call 731-206-9700 and schedule a conversation about next steps and available options.
Why Choose Jay Johnson Law Firm for Executor and Trustee Matters in Banner Hill
Clients choose Jay Johnson Law Firm for practical, responsive handling of probate and trust administration. We focus on clear communication, timely filings and careful record keeping so that clients understand what will happen and when. Our approach is aimed at minimizing delays and resolving administrative tasks efficiently while keeping beneficiaries informed. We work to identify potential issues early and recommend a course of action that fits the estate or trust’s size and complexity.
We assist with every stage of administration: assembling documents, securing and valuing assets, providing required notices, preparing tax filings, and supporting distributions or trust management. When court filings are required, we prepare the necessary paperwork and represent the estate’s interests through the process. Our practical focus is on reducing friction and delivering organized, documented outcomes for the benefit of both fiduciaries and beneficiaries alike.
When families face complicated matters such as business interests, out-of-state assets, or contested claims, our firm helps coordinate the different pieces and communicate with involved parties. We aim to make the administration understandable and manageable, providing guidance at each step and working to finish matters efficiently. If you are named as an executor or trustee in Banner Hill or Unicoi County, a conversation with our office can clarify duties and outline practical next steps.
Ready to Discuss Executor or Trustee Responsibilities? Contact Our Banner Hill Office
How Jay Johnson Law Firm Handles Estate and Trust Administration
Our process begins with a thorough intake to identify the will or trust, locate assets, and determine whether probate or trust administration is required. We then create a plan that outlines key tasks and timelines, coordinate necessary communications with beneficiaries and creditors, assemble the required documentation, and prepare filings when court authority is needed. Throughout the administration we maintain records of receipts, disbursements and distributions, provide regular updates to interested parties, and work toward an orderly closure of the estate or trust that meets legal obligations.
Initial Assessment and Case Intake
The initial assessment identifies the governing documents, locates likely assets and determines important deadlines and potential claims. We confirm whether the will is valid under Tennessee law, whether the trust needs active management, and which institutions hold relevant accounts. This stage includes gathering contact information for beneficiaries and potential creditors, preserving property to prevent loss, and advising on immediate steps such as securing real estate or changing access to accounts. A clear assessment sets the foundation for efficient administration.
Gathering Documents and Financial Information
Collecting documents is essential: the will or trust document, bank and investment statements, deeds, titles, insurance policies, retirement account records and recent tax returns. We help request records from financial institutions, review beneficiary designations, and identify assets that may require valuation. This thorough documentation supports accurate inventories and valuations, which are crucial for filings and accounting. Properly documenting asset ownership and value reduces later disputes and positions the administration for an orderly resolution.
Notifying Beneficiaries and Creditors
Early notice to beneficiaries and potential creditors is often required by statute and helps ensure transparency in the administration process. We prepare and send required notices, advise on timing and content, and document responses. Timely notification begins the clock for creditor claims and provides beneficiaries with information about the estate’s status. Handling notices correctly protects the personal representative or trustee by following statutory procedures and creating a documented record of communication.
Administration and Asset Management
During the administration phase we secure and manage assets, obtain appraisals when needed, resolve creditor claims, pay valid debts and taxes, and handle ongoing expenses. For trusts, this stage includes managing investments and making appropriate distributions to beneficiaries. Accurate accounting of receipts and disbursements is maintained throughout. When court oversight is required, we prepare accountings and reports for the court’s review. Effective management during this phase protects estate value and moves the process toward final distribution.
Valuation and Debt Resolution
Determining the value of estate and trust assets may involve appraisals for real property, business valuations or specialized asset assessments. We coordinate with qualified appraisers and review valuation reports to present accurate inventories. Resolving valid creditor claims involves reviewing documentation, negotiating where appropriate, and prioritizing payments according to Tennessee law. Paying debts and taxes promptly while preserving sufficient funds for estate expenses and distributions is a delicate balance that requires careful tracking and legal understanding.
Filing Tax Returns and Preparing Accountings
Estate and trust administrations often require filing final income tax returns for the decedent, estate tax returns when thresholds are met, and necessary trust returns. Preparing accurate accountings for beneficiaries or the court is also part of this stage. We assist with gathering financial records, calculating tax obligations, and preparing reports that detail transactions during administration. Proper tax preparation and transparent accountings reduce the risk of later challenges and support a clean closing of the estate or trust.
Final Distribution and Closing Procedures
Once debts, taxes and expenses have been paid and any required waiting periods have passed, remaining assets are distributed to beneficiaries in accordance with the will or trust. We prepare documentation confirming distributions, obtain releases when appropriate, and file closing papers with the court if required. For trusts, a final accounting and distribution plan may be prepared. The closing process ensures the estate or trust is wound down properly and that the personal representative or trustee can be discharged from further duties in accordance with applicable rules.
Preparing Final Distributions and Documentation
Final distributions involve transferring titles, issuing checks, and completing deeds or account transfers as needed. We prepare clear documentation of each distribution and ensure beneficiaries receive proper receipts or releases. When property transfers require recording, we coordinate with the appropriate county offices to complete the process. Proper documentation protects the fiduciary by providing a transparent record of actions taken and helps beneficiaries understand exactly how assets were distributed and on what basis.
Closing Filings and Preserving Records
After distributions are complete, necessary closing documents or accountings may be filed with the probate court to obtain formal discharge of the personal representative when applicable. Trustees may provide final accountings to beneficiaries and retain records for the statutory retention period. Preserving a complete administrative file, including notices, receipts, valuations and communications, is important for future reference and in case questions arise later. Secure storage of records protects both the fiduciary and the beneficiaries over time.
Frequently Asked Questions About Executor and Trustee Services in Banner Hill
What are the first steps after being named an executor in Tennessee?
The initial steps after being named an executor include locating the decedent’s will and important financial documents, securing property to prevent loss, and determining whether probate is required in the county where the decedent lived. You should notify close family members, identify known creditors, and gather statements showing account balances. If probate is necessary, you may need to file a petition with the Unicoi County probate court to have the will admitted and authority to act formally recognized. Maintaining clear records from the outset makes later tasks much easier and provides an organized foundation for the administration process.
How long does probate usually take in Unicoi County?
The length of probate varies based on the estate’s size, complexity and whether any disputes occur. Simple estates with limited assets and no contested matters may conclude within a few months, while estates that include real estate, business interests or contested claims can take a year or more. Tennessee statutes establish certain waiting periods for creditor claims and other notices that affect timing. Working efficiently to gather documents, notify interested parties and resolve claims can shorten timelines, but realistic expectations are important when complex assets or disagreements exist.
What responsibilities does a trustee have under a living trust?
A trustee’s duties typically include managing trust assets in accordance with the trust document, making distributions to beneficiaries as directed, keeping accurate records of income and expenses, communicating with beneficiaries, and avoiding conflicts of interest. Trustees may also be responsible for investing trust funds prudently, obtaining valuations when needed, and providing periodic accountings to beneficiaries. Acting in good faith and following the trust’s terms helps ensure that the trustee fulfills fiduciary responsibilities and reduces the risk of later challenges from beneficiaries or creditors.
Do all estates have to go through probate in Tennessee?
Not every estate must go through formal probate in Tennessee. Small estates that meet statutory exclusions or assets held in joint tenancy, payable-on-death designations, or under a living trust may pass outside of probate. Tennessee also provides simplified procedures for small estates that can avoid full probate. Whether probate is required depends on how assets are titled and the total value of probate estate assets. Determining the best path requires reviewing account titles, beneficiary designations and the will or trust documents to identify steps that allow for efficient transfer of property.
How are debts and creditor claims handled during administration?
Creditor claims must be addressed as part of administration. The executor or trustee should identify known debts, publish required notices when statutes call for it, and evaluate claims presented by creditors. Valid debts are paid from estate assets according to priority rules, while invalid or unsubstantiated claims can be contested. Paying debts before distributions helps protect beneficiaries from later claims. Clear documentation of communications and payments to creditors supports the fiduciary’s decisions and provides a record that can defend against allegations of improper handling of estate funds.
Can an executor or trustee be removed, and under what circumstances?
An executor or trustee may be removed under certain circumstances such as failure to perform duties, serious misconduct, conflicts of interest, or demonstrated incapacity. Removal typically requires a petition to the probate court and a showing that removal is in the best interest of the estate or beneficiaries. Courts consider whether the fiduciary has violated duties, neglected administrative tasks, or otherwise acted in a way that harms estate administration. Addressing concerns early through communication and corrective steps can sometimes avoid formal removal proceedings, but courts are available to protect beneficiaries when necessary.
What records should trustees and executors keep during administration?
Executors and trustees should maintain thorough records of all actions taken during administration. This includes copies of the will or trust documents, inventories of assets, account statements, receipts for expenses and distributions, correspondence with beneficiaries and creditors, appraisals and court filings. Keeping a running accounting of deposits and disbursements demonstrates transparency and supports final accountings. Properly organized records also make it easier to respond to beneficiary questions, prepare tax returns and provide the court with documentation if required during the administration process.
Are there taxes due when an estate is administered in Tennessee?
Tax obligations depend on the size and nature of the estate. Final income tax returns may be required for the decedent, and the estate or trust may need to file income tax returns for income generated during administration. Federal estate tax applies only if the estate exceeds certain thresholds, which are subject to change, and Tennessee currently does not have a separate state estate tax at the state level; however, certain state-level requirements may apply. Determining applicable taxes early in the process helps plan for payments from estate assets and ensures timely filings to avoid penalties.
How should beneficiaries address concerns about administration?
Beneficiaries with concerns about administration should first request information and documentation from the executor or trustee. Many issues are resolved through clear communication and review of accountings and records. If concerns persist, beneficiaries may request a formal accounting from the fiduciary or seek court intervention to enforce obligations or resolve disputes. Courts can order accountings, mediate disputes, and, in some circumstances, remove a fiduciary. Addressing issues collaboratively where possible, while preserving documentation, often leads to faster, less adversarial resolutions.
What fees and costs are typically associated with probate and trust administration?
Costs associated with probate and trust administration vary by estate size and the services required. Typical expenses include court filing fees, publication costs for notices, appraisal fees, accounting and tax preparation fees, and reasonable compensation for the personal representative or trustee when permitted. Legal fees may apply when counsel is engaged to prepare filings, resolve disputes or provide ongoing guidance. The estate pays allowable fees and costs before distributions to beneficiaries. Understanding potential expenses at the outset helps fiduciaries plan and allows beneficiaries to have realistic expectations about the timeline and net distributions.