Get help finding the Right Wills and Estate Planning Lawyer for your case
An estate executor is the person named in a will as the administrator of the will. This person is to ensure that the will is carried out correctly and that the deceased's final wishes are honored. He or she will manage the distribution of assets dictated by the will or estate. The estate executor might be named as such by a parent, spouse, or friend. If no executor is named, the court has the right to appoint a professional to act as the administrator.
There are many responsibilities that come with being an estate executor. If the will is simple and straightforward, it could be as easy as filing paperwork and signing documents. However, is the estate is large and/or guardianship of children is involved in the will, being an estate executor can get very complicated and lead to many errors.
The estate executor may need to pay bills for the deceased, take inventory of everything in the estate, file tax returns, notify all beneficiaries, deal with the deceased's employer/employees or insurance policies, send death certificates, etc. Mistakes made could be costly. If taxes are filed incorrectly or assets are overlooked, the process will have to be reopened in court and penalties may apply.
If you have been named the estate executor of a will, an estate planning attorney can help explain the process and duties to you to ensure the process goes smoothly. While you may be able to carry out the will administration on your own, it is important to remember a will is a legal document and you will be dealing with a court. To avoid costly mistakes and confusion, the help of an experienced attorney would be beneficial.
Similarly, if you are planning your will and have questions about naming an estate executor, an estate planning attorney can assist you with this process from start to finish. If an executor is not named for your will, the court will be able to appoint a professional outside of your family for this role.
If you need assistance with Estate Executor issues, speak to an estate planning lawyer in your area today. Attorney Search Network can connect you with an estate planning lawyer that can help you achieve your goals.
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