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An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator. After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly.
An executor will make sure estate taxes are calculated, necessary forms are filed, and the corresponding payments are made. They will also assist the attorney with the estate. Additionally, the executor acts as a legal conveyor who designates where the donations will be sent using the information left in bequests, whether they be sent to ...
An executor is a type of personal representative who’s specifically designated in someone’s will to carry out their final wishes and distribute their assets. A financial advisor can be […]
The executor of a will plays a very important role in the process of closing a deceased individual's estate. Although many think of executors as simply the people who inform heirs of what they've ...
Serving as the executor of a will can be a bigger time commitment than many people might expect. Not only do you need to oversee the transfer of assets to the proper beneficiaries, but you also ...
Executor/executrix or personal representative [PR] – person named to administer the estate, generally subject to the supervision of the probate court, in accordance with the testator's wishes in the will. In most cases, the testator will nominate an executor/PR in the will unless that person is unable or unwilling to serve.
A: Traditionally, having only one executor is thought to be easier; the paperwork and time spent on court proceedings and official business is reduced with just one. However, there are situations ...
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
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