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Before someone can be appointed as an executor, the court may require a probate bond to be issued. Probate bonds are designed to ensure that estate executors act in good faith and do not abuse ...
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.
Upon the death of a person intestate, or of one who left a will without appointing executors, or when the executors appointed by the will cannot or will not act, the Probate Division of the High Court of Justice or the local District Probate Registry will appoint an administrator who performs similar duties to an executor. The court does this ...
A: Irrespective of whether the executor is paid for his or her work, the executor is held to high standards in many courts, and charges may be brought by beneficiaries if the executor spent estate ...
An executor is a person appointed by a will to act on behalf of the estate of the will-maker (the "testator") upon his or her death. 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.
Under the common law, a person who disclaimed their interest would be treated as though they had died before the trust or will came into effect. This was a sensible option if the disclaiming party was an heir by descent, whose own children would then take in his place and without the imposition of a gift tax .
The post Personal Representative vs. Executor: Key Differences appeared first on SmartReads by SmartAsset. Personal representatives are tasked with managing estates when people die, either ...
The death of President James A. Garfield on September 19, 1881—after his lengthy incapacity following an assassination attempt—resulted in Vice President Chester A. Arthur ascending to the presidency. Upon Arthur becoming president, the offices of vice president, president pro tempore of the Senate, and speaker of the House of ...