Executors are individuals who are named in a will to carry out the duties that are outlined by the deceased. Their role is important since they need to make sure the wishes of a deceased individual are being followed. With this role, they have the opportunity to abuse the power they are given. If executors fail to do their job and carry out their outlined duties, they may be removed from this position.
There is a test for removal that is based on whether the executor has any kind of prejudice regarding the estate or the beneficiaries’ welfare. An executor will have to act in a manner that would be considered negligent, dishonest or endangering the estate in any way. Since each case is different, there are many factors involved when a court decides if the executor should be removed. As an executor, you have the right to obtain legal aid through an attorney to protect your role.
What is an executor in charge of?
The executor is the representative that has the legal responsibility to take care of the deceased person’s remaining financial obligations. They may be named in the will specifically or appointed by the court. Some of their responsibilities include providing accounting to the court, paying outstanding debts and taxes and collecting, protecting and distributing assets according to the will’s specification. This is a serious task to take on due to the required obligations.
What is a will?
A will is a legal document that outlines a deceased person’s wishes regarding their estate administration. Probate proves the legality of the will and allows the court to distribute the assets as they are outlined in the document to the designated beneficiaries. Before the deceased individual passes, they will have assigned someone as an executor to their estate. This person has to make sure that the proper possessions are given to the people named in the document.
What is a beneficiary?
Individuals who are named in a will to receive possessions of the deceased are called beneficiaries. These individuals may have a specific part of the deceased’s estate that is given to them due to their personal relationship.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.