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If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility. While you have the option of declining the request, the person reaching out ...
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]
Estate planning may involve a will, trusts, beneficiary designations, powers of appointment, property ownership (for example, joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gifts, and powers of attorney (specifically a durable financial power of attorney and a durable medical power of attorney).
The executor may still take a commission even if he or she is also a beneficiary of the estate, but many executors waive their right to the statutory fee for one reason or another. Q: Can you be ...
Although a single document, the joint will is a separate distribution of property by each executor (signatory) and will be treated as such on admission to probate. Mutual wills are any two (or more) wills which are mutually binding, such that following the first death the survivor is constrained in the ability to dispose of the property by the ...
An Executor Plays a Pivotal Role in the Estate Settlement Process In estate planning, an executor is someone who is charged with settling the estate of a deceased person.