When an individual is appointed to be the executor of a loved one’s estate in California, it is important that they understand just how important of a role they are taking on in the emotional time after the decedent’s death. The executor of one’s estate will be responsible for carrying out all final wishes of the decedent and ensuring that all matters are finalized before the estate can be closed. They will have to make sure that the individual’s will is accepted by the court, that all assets are distributed to the noted beneficiaries, ensure that all outstanding payments and taxes are satisfied, and resolve any contested issues that may arise with the will. There are a lot of questions that executors have when they accept such a crucial role.
Will I get paid for acting as an executor? Yes. Like many other states, California compensates executors with 4 percent of the first $100,000 of the estate, 3 percent on the next $100,000 of the estate, and so forth.
Can I be fired from acting as an executor? If an individual fails to fulfill the duties they are obligated to abide by, they may be removed and replaced by another party.
If you have been named the executor of a will and have questions about your duties, contact our firm today.
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.