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How is an executor involved in estate administration?

How is an executor involved in estate administration?

Deceased individuals will have hopefully created a will before they died. In this document, they have named an executor to administer their estate and finalize anything that needs to be done. The executor takes on an important role to carry out the wishes of the deceased individual. Executors may have to pay off any taxes or debts that the person left behind. This can require them to meet with attorneys, accountants or any other individuals in that field to complete the tasks required of them. The executor will also have to gather all the assets that are to be distributed. One of the main responsibilities of the executor is bringing the will to probate. When this is accomplished, they can gather the assets named in the will to be distributed to the beneficiaries also named by the deceased. With this role, it is important that the executor makes sure the right possessions are given to the right people. This will help to complete the wishes outlined by the deceased.

What is a beneficiary?

A beneficiary is an individual that is stated in the will to receive a certain possession that the deceased has left behind. With this process, loved ones do not have to quarrel over who should get what asset and how they should handle the estate left behind. Instead, the deceased can create these guidelines in their will before they pass. If they create a will and need to adjust it as life progresses, they are able to do so. The beneficiaries of the estate do not have to carry out responsibilities as the executor is responsible to do. They should remain informed of any meetings to attend in order to receive what was left to them. Otherwise, they should be looking out for the best interests of the deceased’s estate by ensuring that their is no corruption on behalf of the executor.

Can an executor be removed from their role?

If an executor is failing to perform the duties expected of them, they can be removed from this role. A beneficiary of the estate can file a motion with the court to have the executor removed. The court may then name someone new to the role of executor for that estate. An executor can also be removed if they are abusing their role by showing signs of corruption. If this is the issue, a judge can oversee the case and make a final decision regarding their removal.

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.

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