Executor Checklist

The first 48 hours

Locate the property. Write down where things sit, including storage unit charges that show on bank and card statements. Tier B. Two New York trust officers, WealthManagement.com (June 2025). Article 334, 339

Change the locks and alarm codes. Ask who has keys. Change the locks and the alarm codes. Tier B. Two New York trust officers, WealthManagement.com (June 2025). Article 334

Tell the insurance agent. Call the insurer and ask what the policy says about an empty house. The policy itself is the place to look; terms vary. Tier B. Two New York trust officers, WealthManagement.com (June 2025). Article 334

Secure the wallet, keys, passport and chequebook. Do this at the outset, then photograph and describe the valuables. Tier B. Canadian law clerk, Fasken, All About Estates (March 2025). Article 334

Photograph or film every room before anything moves. Use a phone with the date and time on. Do it before anything is discarded or taken. Tier C. An Ontario law guide; a collectibles columnist (tier U) gives the same advice (2025). Article 334, 335

Restrict access and choose one or two helpers with care. Funeral times are printed in the obituary and the house is better not left unattended during services. Objects often go missing in the days after a death. Tier B. Holland & Knight article; a collectibles columnist (tier U) (2015). Article 334

Hold off selling or handing out items of marked value. The regulation requires a sworn appraisal and statement before the executor sells or distributes items of marked artistic or intrinsic value ahead of an IRS investigation. Tier A. Treasury Regulation 20.2031-6 (in force; read 2026). Article 334

The first 48 hours. Sources agree on a short list. They are written by trust officers, law firms and an insurer; each is named in the last column.

The first 30 days

Make the list room by room. Each article gets its own value. Items in one room worth US$100 or less each may be grouped. A drawer of small things can be one line. Tier A. Treasury Regulation 20.2031-6 (in force; read 2026). Article 335, 336

Use market value, not insurance value. The test is the price a willing buyer would pay a willing seller on the date of death (United States) or the price on the open market (United Kingdom). Insurance replacement values may not meet it; a figure marked for probate may be queried. Tier A. Treasury Regulation 20.2031-1; HM Revenue and Customs Inheritance Tax Manual IHTM21041 (Manual updated April 2026). Article 306, 335, 337

Ask the insurer for the schedule. The UK form asks for a copy of the insurance schedule if any item was individually listed. Elsewhere the schedule is a starting point for the list of what exists. Tier A. HM Revenue and Customs form IHT407 (United Kingdom); article 335 elsewhere (2018 edition). Article 335

Choose an independent appraiser and ask which of the four values the report gives. An expert paid by the hour who cannot buy from the estate. Ask whether the fee is by the hour or per item and whether it depends on the value found. A fee tied to a percentage of value is considered unethical. Tier C. A jewelry-appraisal trade publisher (tier C); a collectibles columnist on hourly experts (tier U); IRS Publication 561 for the donation rule (tier A) (2014 to 2026). Article 307, 335

Sort before throwing anything away. Valuables can sit among junk. One executor found about US$12,000 in cash in 500 empty potato-chip bags. This is one news story (tier U); the point is to sort first. Tier U. American Bar Association Journal, citing the Wall Street Journal (2016). Article 334, 339

Keep a log of hours and expenses. Commission is paid from the estate, so it comes out of what the family shares. Read the will, ask the heirs and write the answer down. Tier A. State statutes (California, Florida, New York, Texas are the four read here) (2026). Article 341

Until filing

Decide on the alternate valuation date. The executor may value the estate six months after death, only if that lowers both the gross estate and the estate tax. It cannot be undone. Property sold or distributed within the six months is valued on the day it left the estate. Tier A. 26 USC 2032; Form 706 instructions (in force; instructions 2026). Article 335, 336, 341

File the sworn appraisal with the return. An expert’s appraisal under oath for any item or collection of similar items above US$3,000, with a statement of the appraiser’s qualifications. Tier A. Treasury Regulation 20.2031-6; Form 706 instructions (instructions 2026). Article 305, 336

File Form 706. Due 9 months after death. The 2026 exclusion is US$15,000,000 per person and the top rate is 40%. Tier A. Form 706 instructions; IRS Revenue Procedure 2025-32 (2026). Article 334, 335, 336, 341

File Form 4768 if more time is needed to file. A 6-month extension to file is automatic. Tier A. Form 706 instructions (2026). Article 335, 336, 341

Tell each heir the value (Form 8971) and keep the appraisal with the item. The heir’s basis must be consistent with the final estate tax value, so one appraisal serves two purposes. Tier A. IRS Publications 551 and 559; Form 8971 (2026). Article 318, 340

Check the state estate and inheritance taxes. Twelve states and the District of Columbia charge an estate tax (exemptions from US$1 million in Oregon to US$15 million in Connecticut). Five states charge an inheritance tax on the heir, by relationship. Check the state where the person lived, where the property sits and where each heir lives. Tier B. Key Wealth Institute, 2026 state summary (1 October 2025). Article 355

Record the value and date when an item goes to an heir. Each heir starts from the value on the date of death. Write the value and the date and keep the appraisal with the item. Tier A. IRS Publications 551 and 559; HM Revenue and Customs; Income Tax Act; Australian Taxation Office (2026). Article 340

Until filing. Dates are counted from the date of death as the sources state them (9 months, 6 months, 15 months with the automatic extension, 1 year). Weekends and holidays are not adjusted here.

Where these steps come from. The steps are those in the collectibles articles 327 and 334 to 341 (stories 824 and 831 to 838), checked against each other on 12 October 2026 in notes/collectibles-consistency-2026-10-12.md. This page adds no new research.

Where these steps come from. Left out: the date a United Kingdom inheritance tax account is due (the manual read gives no deadline beyond doing it as soon as the value is known), Canadian and Australian filing dates (not in the series), and anything that depends on the will. Bank box rules are read for California only; other states differ.

Where these steps come from