Many people plan in advance for what will happen after their death. This can be done with an estate plan that allows people to prepare for what will happen to their assets when their life is over. In doing so, a person is appointed to carry out these final wishes once the creator passes away. This person is known as an executor. An executor is in charge of handling an estate and making sure all its duties are carried out. This is an important job that comes with many responsibilities.
What is the Job of an Executor?
The executor’s job begins when the individual who created the estate dies. They must then manage the estate and assets to ensure their responsibilities are carried out. One of the first jobs of the executor is to bring the last will and testament in the estate to the court. This begins the process of probate to determine if the document is valid. If the document is approved, the executor must then take care of any financial requirements of the estate. This can include completing outstanding payments or taxes that must be paid off. During this time, it can be beneficial to enlist an experienced attorney or accountant to make sure these payments are made correctly.
Once these tasks are taken care of, the executor can move onto distributing the assets to their rightful beneficiaries. There are some cases in which a beneficiary may doubt the content of a will. When this happens, they may contest the validity of the will. Another job of the executor is to handle these situations.
Choosing an Executor
When a person is creating an estate plan, appointing an executor is a crucial part. It is important to designate an executor that can be trusted, as the job is a huge responsibility that should be treated as such. An executor should be able to appropriately and skillfully carry out the deceased’s final wishes to the best of their ability.
An executor can be removed from their position if they are abusing it. This may be the case if they are negligent or do not act in the best interest of the deceased and their estate. In these situations, a motion may be filed to remove them from their role. Once this is done, a judge can then either approve or deny the motion and designate a new executor to finish the remaining responsibilities.
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.