0
You can find an excellent article about what to consider when choosing an executor at the link provided below.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Does the Executor answer to the beneficiaries?
The executor should operate in the estate's best interests.
How many executors do you need?
The more executor, the more complex the whole thing becomes. It is best to appoint a single executor.
If the executor asks a lower price for a property than the joint beneficiary wants what are the rights of the beneficiary?
The executor has a duty to the estate to bring the best possible price for the liquidation of the assets. The executor will list the property for what it is worth, not what the beneficiary wants.
Can an executor of a will also be named an heir in the will?
Yes, it is possible for an executor of a will to also be named as an heir in the will. However, it is important for the executor to fulfill their duties impartially and in the best interest of the estate and other beneficiaries to avoid any conflicts of interest.
Can an executor spend money from the estate to alter a house before he releases it to the beneficiaries?
An executor is charged with acting in the best interests of the deceased and adhere to the stipulations of the will. An executor may acquire money from the estate if: 1. there are specific stipulations in the will that the executor is entitled to funds as compensation for their efforts. 2. The executor is a named beneficiary of the will, a situation that often happens with couples.
Does the executor have the right to vote the shares of stock of the corporation for decedent?
The executor has a duty to preserve the estate. That would include voting the stock to what they believe is in the best interests of the estate.
What should you do if the named executor who is also the main beneficiary is not acting in the best interest of the other heirs?
Either renounce or administer the estate or pay a professional to deal with the matter and the fees would be met from the estate. It is up to the executor to decide. If the exector decides to administer the estate, he or she can be paid a fee (amount varies by state and county). The executor is not a beneficiary and the beneficiary is not the executor. The beneficiaries really have no say as to what the executor should do (i.e., adminster estate, hire attorney to represent estate, or renounce). The executor has a sworn duty to administer the estate in accordance with the deceased's will and the laws of the state and county of probate.
Will named you as executor but living trust for the house has no executor named Am I still the executor?
The living trust has a trustee, not an executor. The will is a separate process and you would be the executor.
Best describes the person who oversees the reading of your will and ensures your last wishes are followed?
executor
What best describes the person who oversees the reading of your will and ensures your last wishes are followed?
executor
What is the difference between co-executor and independent co executor?
What is the difference between an independent co-executor and a co-executor
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.
