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In estate planning, an executor is someone who is charged with settling the estate of a deceased person. When someone writes a will , they can name a person of their choosing to act as executor.
Q: How much time does it take to be an executor? As: Being the executor of an estate can eat up a few hours a week during the beginning and end of the administration, with less time required ...
Additionally, the executor must secure and manage all estate assets of the decedent during the period it takes to probate a will, which could be as little as a few months or as long as a year. 3 ...
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.
The estate tax is part of the federal unified gift and estate tax in the United States. The other part of the system, the gift tax , applies to transfers of property during a person's life. In addition to the federal government, 12 states tax the estate of the deceased.
When someone dies, others may be called on to manage their estate. An executor is charged with overseeing the distribution of someone's assets according to the will or state inheritance laws if ...
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