The Important Functions Of A Will Executor
Will Executor Lawyer
A will executor is very important and beneficial. An executor is someone that’s appointed by the court who will most likely be nominated in someone’s will. This person is given legal responsibility to ensure that the deceased person’s remaining financial obligations are taken care of.
What does that mean? It means that a will executor will take care of everything from disposing of property to paying bills and taxes. Oftentimes, a will executor can be an immediate family member like a spouse, child, or parents. Executors will also be responsible for:
- Distributing assets according to the will
- Maintaining estate until the estate is settled
- Paying bills for the estate
- Paying taxes for the estate
- Making court appearances on behalf of the estate
If you have been appointed as a will executor for an estate you do have the ability to decline the responsibility. Not to mention, if you accepted the role as will executor you do have the ability to resign at any time. At this time, you would recommend alternative executors to fulfill the duties. If you’re unable to do so, the court will appoint a replacement executor.
If you have accepted being an executor, it’s important to note that you will be fulfilling these duties and you can be owed payment for fulfilling these duties. State law and a probate court can decide what will be a reasonable payment depending on your situation and circumstances. Sometimes when someone accepts the role of executor they perform their duties without payment. This usually is the case because most executors are close family members and will do their duties out of the respect for the deceased.
The time may arise when you might consider hiring a lawyer. This usually happens if there are disputes, complicated property issues, significant tax liability, and other complex issues. If you find yourself dealing with something that is above your level of understanding then it might be beneficial for you to speak with a will executor lawyer as a resource to ask legal questions or turn over the entire probate process to the lawyer.
If you are dealing with issues and circumstances that are above your knowledge and you find yourself dealing with more complex laws and disputes then a lawyer could assist with putting your mind at ease and fulfill your will executor duties.