When an individual creates a will as part of his or her comprehensive estate plan, they will need to choose someone who will act as the executor. Being appointed the executor of an estate is a very important role and is one that holds significant responsibility. After an individual passes away, the executor of his or her estate will begin their job.
An executor has many roles when it comes to administering the estate. They are required to carry out all of the wishes outlined in the estate plan. The executor will bring the will to probate, gather assets, pay any estate debts, and distribute the inheritances to the beneficiaries who were named in the will. Additionally, the executor may have to file tax returns, pay outstanding inheritance taxes or estate taxes, preserve assets, and more with the help of attorneys, accountants, and beneficiaries.
Choosing an individual to be the executor of one’s estate should not be taken lightly. It is important to choose someone who can be trusted to carry out wishes, make sure all obligations are satisfied, and is agreed upon by beneficiaries to make the process go as smoothly as possible.
If you need help creating an estate plan or have questions about being named an executor, contact us 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.