Appointing an executor is one of the most important roles in an estate plan. Keep reading to obtain more information about the role of an executor, and contact our firm today to speak with one of our experienced California estate planning attorneys.
What is an executor of an estate?
In the state of California, executors play a significant role in the operation of an estate plan after an individual’s passing. Usually, executors are responsible for managing all assets and estate as a whole. The first thing an executor will have to do is bring a last will and testament to the surrogate court in the county in which that person lived. Once the probate process begins and the will is deemed valid, the executor will then have to handle any financial obligations of the estate. In most cases, this means making outstanding payments or taxes, usually with the aid of a skilled estate planning attorney. The executor will also distribute all the assets within the estate to their corresponding beneficiaries. It is also important to note that in the event that a beneficiary contests a will’s validity, the executor of that estate is in charge of resolving the issues.
As you can see, an executor carries a lot of responsibility, which is why if you have questions or concerns regarding this role, it is in your best interest to reach out to an experienced estate planning attorney as soon as possible.
What will happen if no one wants to be an executor for my estate?
There are some instances where an individual who was once appointed as an executor decides that they are too overwhelmed with the tasks of handling an estate and all of the weight that it carries. In other cases, an individual might accept the role without really knowing what it involves, and then decide to back down. If this occurs, courts will not force that person to continue this role if he or she doesn’t want to. An estate plan allows for a backup executor to take on the role in the event that this happens. If no one wants to take the role, the court will select an individual suitable for the job. Additionally, an executor can be removed from the position if he or she is not properly adhering to the duties or is engaging in fraudulent activity.
If you are creating your estate plan, you will need to choose a trusted individual to become your executor. If you have questions or concerns about the process, do not hesitate to contact our firm today to learn more.
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.