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They are responsible for executing the will, or the intestacy laws that apply. They have to inventory the estate's assets, have them valued, and protect them until they are distributed according to the will or law. They have to resolve all of the deceased person's debts and taxes and report the final accounting to the court.
What else can I help you with?
Is the executor responsible for the lawyers fees?
The estate is responsible for attorney's fees. The executor is responsible to pay the debts of the estate before any property can be distributed. If the executor mishandles the funds they will be personally liable.
Is an executor responsible for the debt?
Not personally. The estate is responsible.
Is the executor responsible for paying all taxes on an estate?
The estate is responsible for paying all taxes. The executor is responsible for making sure that the estate does so.
Is surviving spouse responsible for medical bills in NJ?
Only if she is the executor of the estate. The executor is responsible for all estate debts.
Is an executor responsible for anything missing from an estate property?
The executor has the responsible to maintain the estate. That includes keeping the property safe.
Is the executor responsible for maintening house and garden?
The executor is responsible for the estate. That would include keeping the property in good condition.
Is the executor responsible for distributing inheritance?
That is the job of the executor. To distribute the estate and liquidate the assets.
Can the executor pay for work needed on properties?
The executor is responsible for the assets of the estate. That would include taking care of the property taxes, upkeep and maintenance. The executor is not personally responsible for the bills, the estate is.
Is a executor in NY state responsible for debt if it is more than the assets?
The executor is not personally responsible for the debts. If the estate is not sufficient, the debtors will not get paid in full.
Is a executor of a will responsible for all the bills of a estate?
The executor is not personnally responsible. The estate is responsible to pay off the debts. If the assets are not sufficient to pay off the estates, they do their best and get the court to agree.
Will become responsibe for adult son's debts become executor?
The estate is responsible for the debts of the deceased. The executor is not personally responsible for them.
Is the executor of the will responsible for debt in excess of value of estate?
No, the executor is not personally responsible. The estate has the responsibility to resolve the debts. If the assets are not adequate to resolve them, they have to be written off.
