What does an Executor do?

It is extremely important to understand the job of an executor before you select who will be in charge of your estate.

The executor of a will or estate is responsible for carrying out the wishes of the estate. These tasks may include the disbursement of property to any beneficiaries, locating any additional potential heirs, collecting or paying the debts of the estate, and disapproving or approving claims from creditors.

The executor of the will be organized and reliable. They must maintain records of the estate, file any accountings, pay taxes, file tax returns, manage insurance policies and safe deposit boxes, and assist the estate lawyer in any way possible.

If the executor of a will is not performing his or her duties effectively, they can be removed. In order to change executors, a petition must be filed to have that person removed. For someone to make this petition, they must have a stake in the estate and present evidence that the removal of the executor is appropriate.

Never hesitate to contact a professional for full information on choosing or changing the executor of your will or estate.

0

Add a Comment