Such a question list would be far too long to place here. A few of the duties of an executor or executrix are: An extremely important task, filing the petition on time to avoid serious penalties and fees, (generally the estate must be filed from 9-12 months after the death). The collecting of assets and filing of known inventory with the probate court. Consolidating funds as much as possible and establishing a separate checking account for bills and bequests. Paying all bills and taxes. Distributing property to heirs and legatees. Filing the deceased's final tax return. A final accounting of the estate to the probate court. ALWAYS keep in mind the executor/executrix is 100% responsible to the court for the proper execution of the estate!
No. As the executor of a will, your role as executor is not triggered until the party who named you executor dies. If the parent is still alive, you'd need a power of attorney (document) naming you as the power of attorney to make decisions for the parent in the event that the parent is incapacitated or incapable of making decisions on his or her own behalf.
I can answer my own question now that I have spoken with a lawyer in Illinois. The answer is yes, I can be the executor of my parent's estate, even though I live out-of-state. Thanks for this forum.
You can't. Power of Attorney is only for people who are alive. You can however petition to become the executor of that person's estate.
The answer to both questions is yes, if the heirs at law of the deceased executor are also interested parties to the estate. The family should get together and decide who would make a good replacement. Then the court should be notified of the death of the executor and at the same time the chosen replacement can request appointment as the successor. You should consult with the attorney who is handling the estate.The answer to both questions is yes, if the heirs at law of the deceased executor are also interested parties to the estate. The family should get together and decide who would make a good replacement. Then the court should be notified of the death of the executor and at the same time the chosen replacement can request appointment as the successor. You should consult with the attorney who is handling the estate.The answer to both questions is yes, if the heirs at law of the deceased executor are also interested parties to the estate. The family should get together and decide who would make a good replacement. Then the court should be notified of the death of the executor and at the same time the chosen replacement can request appointment as the successor. You should consult with the attorney who is handling the estate.The answer to both questions is yes, if the heirs at law of the deceased executor are also interested parties to the estate. The family should get together and decide who would make a good replacement. Then the court should be notified of the death of the executor and at the same time the chosen replacement can request appointment as the successor. You should consult with the attorney who is handling the estate.
A Power of attorney expires immediately upon the death of the principal. If your parent has died the POA is no longer in effect. If your parent left a will naming your sister as the executor the will must be submitted to the probate court. The court will review the will to determine if it is valid under state laws. If it is allowed then your sister will be appointed the executor if no other person objects to the appointment. Once she has been appointed by the court as executor your sister will have the authority to settle the estate according to the provisions set forth in the will, according to the state probate laws and under the supervision of the probate court.
Yes, that is very common. The spouse is typically the executor of the estate.
The contents of a Will are your parents' personal and legal business. It is none of a child's business unless the parent shows you the Will, includes you in estate/will planning, or you are named the Executor/Executrix of the Will (this is not a minor child). When the parents die, the Executor/Executrix can contact the parents' Attorney to get a copy of the Will, if it's location is unknown at home.
There are no residency requirements for being executor. The beneficiaries do have to be citizens of the US.
You should seek the advice of the attorney who is handling the estate.
The estate is responsible for the debts of the decedent. The executor is not personally liable. If it is necessary to bring suit the executor's name will be recited as the respondent as the executor of the estate and not as an individual.
Though it is not good idea, the Trustor (parent) can name anyone they want to Administer (Executor) of their Estate. An Administrator is a title usually reserved for a Court appointment, of which this would not be.
You need to submit the will to probate court for allowance and ask to be appointed the executor. If there is a different executor named in the will they may need to sign a declination.