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Tadeusz Kościuszko (1746–1817), a prominent figure in the history of the Polish–Lithuanian Commonwealth and the American Revolution, made several wills, notably one in 1798 stipulating that the proceeds of his American estate be spent on freeing and educating African-American slaves, including those of his friend Thomas Jefferson whom he named as the will's executor.
An Executor Plays a Pivotal Role in the Estate Settlement Process In estate planning, an executor is someone who is charged with settling the estate of a deceased person.
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.
Being the executor or administrator of the deceased’s estate, but only in states that require executors or administrators to pay off debt from property jointly owned by the surviving and ...
If you will, allow us to present the hypothetical case of Pete Moneywise, a married, 78-year-old father of three who wants to get his financial affairs in order before his passing.
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 charity or other organizations. In most circumstances, the executor is the representative of the estate for all purposes, and has the ability to sue or be sued on behalf of the estate.
Where a person dies leaving a will appointing an executor, and that executor validly disposes of the property of the deceased within England and Wales, then the estate will go to probate. However, if no will is left, or the will is invalid or incomplete in some way, then administrators must be appointed.
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