Appointing an executor is one of the most crucial components of an estate plan. An executor carries a lot of responsibility in the performance of an estate plan. If you have questions, do not hesitate to reach out to one of our skilled New York estate planning attorneys today to discuss the specifics of your case and how we can best help you.
What is an executor?
An executor is in charge of handling and distributing your estate in the event of your passing. In most cases, if you are creating your estate, you will need to appoint an executor.
What are the responsibilities of an executor?
Typically, if you are chosen to be an executor, it is an honor because it is such an important role in someone’s estate planning process. The executor of an estate will usually be accountable for the finances of the estate. This includes taking care of any taxes or overdue bills. One of the most important roles this person will have is distributing assets to the beneficiaries. Executors will also be held responsible for handling disputes. For example, if a beneficiary contests the will.
Contact our firm today to learn more about the role of an executor in more detail. Our estate planning attorneys have the knowledge and experience required to help you navigate through this process.
What happens if no one wants to be an executor for my estate?
In some cases, people can be overwhelmed with the tasks of handling an estate and all of the weight that it carries. In other cases, an individual might accept the role without really knowing what it involves. If this happens, courts will not force that person to become an executor if he or she doesn’t want to. An estate plan allows for a backup executor to step into the role in the event that this occurs. If no one wanted to take the role, the court will appoint an individual suitable for the job. It is also important to note that an executor can be removed from the position if he or she is not fulfilling the duties or is engaging in fraudulent activity.
If you have questions concerning this role in an estate plan, do not hesitate to reach out to our experienced estate planning attorneys to learn more. Our firm is dedicated to ensuring that you and your future are best protected.
Contact our Firm
The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.
