When planning your estate, you will most likely choose an executor. The executor’s main duty is to carry out the instructions to manage the affairs and wishes of the estate after your passing. For many people, it is an honor to be chosen as an executor, but in other cases, the executor does not want to, or is unable to, take on this role. Read on for more information regarding what to do if no one wants to be the executor of an estate.
What is an Executor?
Executors have a significant role after your passing. Generally, executors are responsible for managing all of your assets and your estate as a whole. Your executor will first have to bring your last will and testament to the surrogate court in the county in which you lived. Once the probate process begins and your will is deemed valid, your executor will then have to handle any financial obligations of your estate. Typically, this involves making outstanding payments or taxes, usually with the help of an experienced attorney. Your executor will also distribute all the assets within your estate to their corresponding beneficiaries. If a beneficiary contests your will’s validity, your executor is in charge of resolving these issues. This is an extremely important job, and it can be a lot of responsibility. For this reason, some people may not want to be the executor.
What if no one Wants to be the Executor?
Sometimes, an individual has failed to name an executor. Other times, an executor has been chosen, but this person does not want to take on this responsibility. If the person who the deceased selected to serve as executor is not interested in taking on this obligation, the court will not appoint that individual as executor. In the case that there is no backup executor, and no family or friends want to step up to the plate, the court will appoint someone who is appropriate for the job.
If you have any questions or concerns about estate planning, contact our firm today to discuss your various options. Additionally, if you have any questions about what being an executor entails, we are here to walk you through the process.
Contact our Firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Offices of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.