What is the difference between an executor and a beneficiary?

For estate administration matters, executors and beneficiaries are both categories of individuals involved in the process. Beneficiaries are those individuals who are named in a deceased individual’s will to receive a possession or some part of their estate. Executors are individuals who are named in the will to execute this process. They have responsibilities to accomplish before they dole out the estate to the proper beneficiaries.

What responsibilities does an executor have?

After an individual dies, their will is examined to understand its contents. An executor should be named in the will to perform duties after the death. They may have to pay off any taxes or debts that the person left behind. This may require them to meet with attorneys, accountants or any other individuals in that field to complete the tasks required of them. The role of an executor is an important role. It is assigned to finish tasks that were left behind by the deceased.

The executor is in charge of bringing the will to probate. Then they can gather the assets so that they can be distributed to the correct beneficiaries. This role is important to make sure that the beneficiaries are receiving what is given to them in the will.

Can the role of executor be someone other than the one named in the will?

If the executor fails to do their part, they can be replaced. As the individual named in the will by the deceased person, they should be carrying out their duties as an executor. By failing to do so, a beneficiary can file a motion to have them removed. If someone believes that the executor is not acting in the best interests of the estate, they can be removed for this as well. Signs of corruption by the executor can be seen as a wrongdoing in their role. This can lead individuals to believe they should be removed. A judge can oversee this case and make the decision. They may decide to remove the individual from their role as executor and then appoint a new executor to carry out the responsibilities needed the complete the process.

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.