When you begin estate planning and create a will, you are going to have to choose someone to be the executor of your will. An executor has a very important job when the person with the will passes away. An executor of a person’s will makes sure all of the deceased person’s wishes upon their passing are respected. This is just the beginning of the executor’s responsibility.
When you are chosen to be the executor of a loved one’s will, you should make sure you do not divert from the deceased person’s wishes. You should be aware that acting as an executor is a very document-heavy process. You will be required to distribute inheritances to any of the beneficiaries listed in the will, pay any estate taxes or inheritance taxes, file any outstanding tax returns, and pay off any debts that the deceased person may have under their name.
An executor will have to file a Petition for Letters of Administration to officially take this position. California understands that being the executor of a person’s will is not an easy task. It is very time consuming and requires a lot of effort put in by the executor. Due to the fact that acting as executor is a job in itself, those who take on this role will be compensated based on the value of the deceased person’s estate. However, as being an executor is similar to a job, you can also be removed as executor if you fail to abide by your responsibilities. If you are acting in a negligent manner in regards to the estate, the probate court may determine that you are “endangering the estate,” which would remove you from this position.
If you have questions about choosing an executor for your will or what you should do if you have been chosen to act as executor of a loved ones’ will, you should consult with an experienced estate planning attorney who can provide you with assistance.
If you need the dedicated legal representation for wills, trusts, and estate matters in California, contact the Law Offices of Yacoba Ann Feldman to schedule a consultation.