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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 ...
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.
Write a claim to the executor or administrator of the estate stating under oath that you are owed a debt. Provide details about the debt amount and attach any written documentation to the claim.
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
Making a will should be on your mind — yet up to 60% of Americans do not have a will, ... If you don't have someone you trust to act as executor, hire a lawyer paid out of your estate.
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.
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.
Serving as the executor of a will can be a bigger time commitment than many people might expect. Not only do you need to oversee the transfer of assets to the proper beneficiaries, but you also ...