Many people want to plan in advance for what will happen when their life is over. This can be done through an estate plan, allowing them to prepare for what will happen to their assets after their death. In doing so, a person can assign a person to carry out these plans once their life is over. This person is an executor. An executor is responsible for making sure an estate plan is taken care of and handled the way it was intended to be by the deceased individual who created it.
What is the Job of an Executor?
An executor’s job begins when the person who created the estate passes away. Their overall responsibility is to manage the estate and assets. The first things an executor must do is bring the individual’s last will and testament to the surrogate court in the country in which they lived. This begins the process of probate to figure out if the document is valid. Once it is deemed valid, the executor must handle any financial requirements of the estate. This can consist of making any outstanding payments or taxes. In doing so, it can be beneficial to enlist an experienced attorney or accountant to make sure this is done correctly.
The executor is also responsible for distributing all the assets within the estate to the right beneficiaries. Sometimes, a beneficiary may be doubtful of a will’s content and want to contest its validity. In these situations, the executor must handle it and clear up any issues.
Choosing an Executor
When an estate plan is created, appointing an executor is a big part. It is crucial to hand over this position to a trusted individual that can be sure to handle all the important tasks. The job is a huge responsibility that should be treated as such. The executor should be able to carry out the deceased’s final wishes to the best of their ability.
It is important to know that an executor can be removed from their position if they are not doing their job correctly. For example, if the executor acts negligently or does not act in the best interest of the deceased and their estate. A motion may be filed to have them removed. When this happens, a judge can either approve or deny the motion. If they approve to remove the executor, they can designate a new person to finish the job.
Contact our Firm
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.