Page 18 THE MALDEN ADVOCATE–Friday, August 28, 2020 OBITUARIES David M. Collins Age 79, formerly of Sudbury and Malden, died August 19, 2020 at his residence. Born in Malden, he was the son of the late Michael and Marjorie M. (Skillins) Collins. David was the loving husband of Janet L. (Robinson) Collins for 55 years. David graduated from Malden Catholic H.S. in 1959, received his B.S. in Accounting from Bentley Uniavvya yavvy en oniorior avvy S ior io iori by Jim Miller An Executor’s Guide to Settling A Loved One’s Estate Dear Savvy Senior, My aunt recently asked me to be the executor of her will when she dies. I’m fl attered that she asked, but I’m not sure what exactly the job entails. What can you tell me about this? Inquiring Niece Dear Inquiring, Serving as the executor of your aunt’s estate may seem like an honor, but it can also be a lot of work. Here’s what you should know to help you prepare for this job. As the executor of your aunt’s will, you’re essentially responsible for winding up her aff airs after she dies. While this may sound simple enough, you need to be aware that the job can be time consuming and diffi cult depending on the complexity of her fi nancial and family situation. Some of the duties required include: • Filing court papers to start the probate process (this is generally required by law to determine the will’s validity). • Taking an inventory of everything in her estate. • Using her estate’s funds to pay bills, including taxes, funeral costs, etc. • Handling details like terminating her credit cards and notifying banks and government agencies like Social Security and the post offi ce of her death. • Preparing and fi ling her fi nal income tax returns. • Distributing assets to the benefi ciaries named in her will. Be aware that each state has specifi c laws and timetables on an executor’s responsibilities. Your state or local bar association may have an online law library that details the rules and requirements. The American Bar Association website also off ers guidance on how to settle an estate. Go to AmericanBar.org and type in “guidelines for individual executors and trustees” in the search bar to fi nd it. Get Organized If you agree to take on the responsibility as executor of your aunt’s estate, your fi rst step is to make sure she has an updated will and fi nd out where all her important documents and fi nancial information is located. Being able to quickly put your hands on deeds, brokerage statements and insurance policies after she dies will save you a lot of time and hassle. If she has a complex estate, you may want to hire an attorney or tax accountant to guide you through the process, with the estate picking up the cost. If you need help locating a pro, the National Association of Estate Planners and Councils (naepc. org) and the National Academy of Elder Law Attorneys (naela. org) are good resources that provide directories on their websites to help you fi nd someone. Avoid Confl icts Find out if there are any confl icts between the benefi ciaries of your aunt’s estate. If there are some potential problems, you can make your job as executor much easier if everyone knows in advance who’s getting what, and why. So, ask your aunt to tell her benefi ciaries what they can expect. This includes the personal items too, because wills often leave it up to the executor to dole out heirlooms. If there’s no distribution plan for personal property, suggest she make one and put it in writing. Executor Fees As the executor, you’re entitled to a fee paid by the estate. In most states, executors are entitled to take a percentage of the estate’s value, which often ranges anywhere from 1 to 5 percent depending on the size of the estate. But, if you’re a benefi ciary, it may make sense for you to forgo the fee. That’s because fees are taxable, but Uncle Sam in most states doesn’t tax inheritances. For more information on the duties of an executor, get a copy of the book “The Executor’s Guide: Settling A Loved One’s Estate or Trust” at Nolo.com. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book.. JUST LISTED! This is your opportunity for home ownership in a great Everett neighborhood. This well maintained 7 room home has been owned by the same family for many years and offers 3 or 4 bedrooms, 1½ baths, large living and dining rooms and eat in kitchen. 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Besides his wife Janet, he is survived by his cousins, Maureen Auterio and her husband Kenneth of South Chatham and John Rock and his wife Mary of Billerica. David was predeceased by his brother, James F. Collins. In lieu of fl owers, please send donations in his memory to Vietnam Veterans of Massachusetts, 27 Beacon St., Rm 546-2, Boston, MA 02133 or Buddy Dog Humane Society Inc., 151 Boston Post Rd., Sudbury, MA 01776. Charles C. Poldoian Age 96, lifelong resident of Malden, passed away on August 25, 2020. Husband of the late Marie (Dyer) Poldoian, to whom he was married for nearly 70 years at the time of her passing on August 11, 2017. Father of the late Daniel J. Poldoian. Son of the late Miriam (Stephanian) and Capriel Poldoian. Brother of the late Gabriel, John, Sam, and Leo. Survived by his daughter Jean Osborne and her husband Robert of Saugus, MA. Also his grandson Matthew Osborne of Somerville. US Navy veteran USS Elokomin, WWII. Late employee of MDC Mystic. 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