Search results
Results from the WOW.Com Content Network
The public trustee is an office established pursuant to national (and, if applicable, state or territory) statute, to act as a trustee, usually when a sum is required to be deposited as security by legislation, if courts remove another trustee, or for estates if either no executor is named by will or the testator elects to name the public trustee.
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.
An executorial trustee is someone who is appointed to be an executor (the person who carries out the directions set forth in a will) and also be a trustee of a testamentary trust created by the will. [1]
Rhonda Griswold, a Cades Schutte law firm partner, joins producer/host Coralie Chun Matayoshi to discuss your fiduciary duties as an Executor or Trustee, things you need to do, notice and ...
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.
If you've been named executor of an estate, you carry the burden of a variety of duties and legal responsibilities, including filing and paying remaining local and federal taxes, assessing the ...
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the state where the deceased resided at the time of their death.
However, it can also be granted in cases where the chain of representation is broken. Such would happen, for example, when the executor of a will has obtained probate, but then dies intestate. (Normally, if the executor dies testate, the representation passes to the executor of the first executor's estate upon probate of the latter's own will.