What does it mean to be Will executor?
An executor is someone who is named in the will as responsible for dealing with the estate. An executor may have to apply for a special legal authority before they can deal with the estate. This is called probate. An administrator has to apply for letters of administration before they can deal with an estate.
Does the executor have the final say in a Will?
Does the executor of a Will have the final say? Executors don’t have absolute authority over a Will — eligible parties can legally challenge, or ‘contest’, a Will. The executor will defend any challenges to the estate.
Can an executor be a beneficiary in a Will?
Yes, an executor can be a beneficiary in a will. Although it is usually appropriate to appoint beneficiaries as executors in these cases, difficulties can arise where only some of the beneficiaries are appointed as executors.
What is the role of the executor of a will?
The executor of a will is in charge of making sure the wishes of the deceased are carried out, as well as handling the final affairs of the estate. The executor has authority from the county probate court to act in this role, but that doesn’t necessarily mean that the executor has the final say on all decisions regarding the estate.
What happens if you are not an executor of an estate?
If you do not protect the assets of the estate, you may end up in a situation where there are not enough assets to cover debts and expenses of the estate. You also create legal liability for yourself as executor. 6. Pay Legitimate Bills and Taxes. As executor, you’ll pay the bills and taxes for the estate.
Do you have the right to question the executor?
A person who thinks otherwise should not have accepted the role of executor in the first place. This means you are entitled to any and all information related to property left to you, even if it is a portion of joint property, to include an accounting, appraisal if applicable and proof of insurance.
Can a beneficiary ask the executor of a will?
If he or she fails to respond or the response in insufficient, you can ask the probate court to make the executor respond correctly and transparently. If the probate court finds the executor has wasted assets or distributed assets improperly, the executor can be held personally liable to reimburse the beneficiaries.
The executor of a will is in charge of making sure the wishes of the deceased are carried out, as well as handling the final affairs of the estate. The executor has authority from the county probate court to act in this role, but that doesn’t necessarily mean that the executor has the final say on all decisions regarding the estate.
Can a beneficiary question the executor of an estate?
Technically, the executor works for the beneficiaries. The executor of an estate — regardless whether it is a family member, friend or the deceased’s attorney — has a fiduciary duty to the beneficiaries to manage the estate in a way that promotes the best interests of the beneficiaries.
Do you hear only from the executor or estate?
The heirs of the estate may hear only from the lawyer or may hear the Executor say, “This is what the lawyer says we have to do.” This often raises the question, does the lawyer owe a fiduciary duty to the heirs of the estate since the Executor owes a fiduciary duty to the heirs?
Can a probate attorney represent the executor of an estate?
If you are the Executor hiring the attorney, ask what the law is. If you are an heir of the estate, the lawyer should give you some guidance. If the probate estate is in one of the majority states, the first letter from the attorney should start with a sentence that reads, “I have been retained by Mr. Smith, Executor of the Estate of Ms. Smith.