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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.
Traditionally, letters of administration granted to a representative of a testator's estate are called "letters of administration with the will annexed" or "letters of administration cum testamento annexo" or "c.t.a.". Essentially, this document is issued to the person who will administer the estate of someone who dies without a will.
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 more important cases of grants of special letters of administration include the following: Administration cum testamento annexo, where the deceased has left a will but has appointed no executor to it, or the executor appointed has died or refuses to act. In this case the court will make the grant to the person, usually the residuary legatee ...
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Though it has been thought a "will" historically applied only to real property, while "testament" applied only to personal property (thus giving rise to the popular title of the document as "last will and testament"), records show the terms have been used interchangeably. [1] Thus, the word "will" validly applies to both personal and real property.
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