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As an executor, you can be held liable if you make distributions too soon before taxes or creditors are paid. Adhere strictly to the timeline that the law enforces. Your lawyer can help you with this.
A trust company can be named as an executor or personal representative in a last will and testament.The responsibilities of an executor in settling the estate of a deceased person include collecting debts, settling claims for debt and taxes, accounting for assets to the courts and distributing wealth to beneficiaries.
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After executing a trust agreement, the settlor should ensure that all assets are properly re-registered in the name of the living trust. If assets (especially higher value assets and real estate) remain outside of a trust, then a probate proceeding may be necessary to transfer the asset to the trust upon the death of the testator.
The firm was established in 1986 [6] [7] by John B. Quinn, Eric Emanuel, David Quinto, and Phyllis Kupferstein, with the purpose of being a litigation-only firm.In 1988, A. William "Bill" Urquhart decided to join the two-year-old firm, which became Quinn Emanuel & Urquhart, [8] and soon later Quinn Emanuel Urquhart & Oliver with the addition of Dale Hugh Oliver. [9]
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