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The executor of a will is the person responsible for making sure the desires of the will are carried out. They are responsible for paying off the debts and distributing the assets. They must inventory the assets of the estate and have them valued. They also have to pay taxes and file the appropriate reports with the probate court.
Wiki User
∙ 16y ago
Wiki User
∙ 11y agoA high level summary would be:
- Inventory and value the entire estate.
- Maintain the estate until it is distributed.
- Identify and notify all potential debtors.
- Pay all debts
- File and pay all taxes
- Execute the will as written or the intestacy laws of the state
- Report to the court and get sign off on all distribution of property
- Close the estate
Wiki User
∙ 10y agoThey have to preserve the estate as well as inventory and value it. They then have to execute the will or follow the laws of intestacy for the specific state.
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Is it common for the lawyer to be executor of a will?
It is often the attorney who is named executor of a will. This prevents the family from fighting over how things are done. Banks are another common executor.
How soon does an executor execute a will?
It should be done as soon as possible.
Can the executor of the estate transfer ownership of home to executor with consent of living owner?
You can't be the executor of an estate if the individual is still living. Property transfers are done the same as any other time.
Can you sell property with an Executor's Deed?
Yes but it must be done by a duly court appointed executor and according to state laws.Yes but it must be done by a duly court appointed executor and according to state laws.Yes but it must be done by a duly court appointed executor and according to state laws.Yes but it must be done by a duly court appointed executor and according to state laws.
Can you resign as co-executor?
Yes, you may resign as co-executor. You simply have to inform the court. You may have to provide an accounting of what you have done to that point.
Do you need the signature of the co-executor to remove them from a will?
The naming of the executor is something done by the person making the will. If they are still living, they can do what they like and no signature is required.
Does an executor have the right to repair the deceased property?
Yes. The proper maintenance of the decedent's property is the responsibility of the executor until the property has been sold or distributed. If repairs are needed the executor can make the decision to have them done.
Can executor appoint a representative?
Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.
When an Executor edits his father's will for probate?
It is fraud. You cannot 'edit' a will once the testator has signed it. And amendment or codicil can be filed to change parts of the will, but they have to be done by the testator, not the executor.
Can executor pass responsibilities to attorney?
Yes. The executor can assign their rights to represent the estate by the appointment of an agent. That is frequently done when the deceased owned property in another state or when the appointed executor lives a distance from the court where the estate is filed.
Is the oldest child normally executor of estate?
No, the oldest child is not automatically designated as the executor of an estate. The executor is typically chosen by the individual in their will or appointed by the court based on state laws. It is important to select an executor who is capable of handling the responsibilities involved.
Does the executor have to get appraisals done on jewelry that is listed in a will?
One of the most important jobs of the executor is to list all the assets and their values. It is critical in order to liquidate the estate and resolve taxes.
