Search results
Results from the WOW.Com Content Network
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.
Some states require the executor to personally inventory and report the decedent’s assets within a certain time period, such as within 90 days from the date of death.
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 ...
An estate can be an estate for years, an estate at will, a life estate (extinguishing at the death of the holder), an estate pur autre vie (a life interest for the life of another person) or a fee tail estate (to the heirs of one's body) or some more limited kind of heir (e.g. to heirs male of one's body).
The deceased person’s beneficiaries, meanwhile, get to receive assets from the estate. In terms of executor vs. beneficiary rights, there are several differences with regard to what type of ...
An executor is a legal term referring to a person named by the maker of a will or nominated by the testator to carry out the instructions of the will. Typically, the executor is the person responsible for offering the will for probate, although it is not required that they fulfill this.
Read more: Generating 'passive income' through real estate is the biggest myth in investing — but here's 1 surefire way to do it with as little as $10 When you do need to pay off a loved one's debt
Gaines had some interaction with her parents once she moved in with the Davis family. Clark often visited her as a child and provided some financial support. However, at the time of his death in 1813, he never publicly acknowledged his paternity. [10] Gaines did not receive much more support from her mother.