Wills plan for important estate administration matters. These legal documents provide guidelines on how a deceased individual’s estate should be administered among their loved ones. They can include the names of beneficiaries in their will, which can include a few beneficiaries. These beneficiaries will receive a part of the estate that is specifically named to be given to them. You may appoint as many beneficiaries as you need to administer the items of your estate that you wish to give away. This may name various loved ones that can include family members and friends. Assets can include your real estate, your motor vehicles, sentimental items or highly valued possessions. It can include a range of items that you wish to pass on to other individuals to benefit them and have your assets inherited. Beneficiaries will be administered their share of the estate after the individual dies and probate is completed. The executor will distribute the assets to the beneficiaries that are named in the will to ensure that they are given the property named to them.
Do executors receive assets?
Executors are important to the estate administration process. They accomplish tasks to complete this process in the end. This individual is named in a deceased person’s will to carry out responsibilities that must be handled after their initial death. There is only one executor that is named in a will. Only one individual is named to work on their own. They must complete these tasks to the best of their ability or they may be seen as unfit for the role and can be removed from their position. An executor is responsible for paying off taxes and debts that the deceased person has left behind. They will tie up any loose ends that remain. These individuals will have access to the estate in order to do so.
An executor has the responsibility of collecting the assets and possessions that are named to be distributed to beneficiaries. This may include a wide range of various items depending on the number of beneficiaries that are named in the will. One of the main roles of the executor is to bring the will to probate. They will have to file the will in the Surrogate Court to ensure that it is valid.
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.
