When a person creates an estate plan, they do so with the intent to prepare for what happens to their assets when their life is over. Throughout this process, the individual has the opportunity to assign another person to carry out these wishes. This person is known as an executor. An executor is chosen by an estate creator to ensure their estate is handled the way they wanted it to be. This is an important job, as they must carry out a loved one’s final wishes during a very emotional time. An executor has many responsibilities that begin when the estate creator passes away.
What does an Executor do?
The job of an executor is to manage a person’s assets when their life is over. It is their responsibility to ensure that everything is handled correctly. This comes with certain tasks that must be finished to completion. The first step of handling an estate is bringing the deceased’s last will and testament to the Surrogate Court in which they lived before their death. This allows the process of probate to begin in order to determine the validity of the will. If a beneficiary chooses to contest the will, the executor must resolve these issues. Once the document is approved by the court, the executor must then take care of any financial obligations, such as outstanding payments or taxes. One of the final and most important parts of caring for an estate is correctly distributing its assets to the rightful beneficiaries.
Choosing an Executor
When creating an estate plan, it is important to consider who would be the right pick for the executor position. This decision should not be made impulsively or without thought, as the job should belong to a person who can be trusted to make decisions that are in the best interest of the deceased and their estate. In addition to this, an executor should be a person who is able to handle an overwhelming and drawn-out process.
It is important to know that an executor can be removed from their position. This may be the case if they do not do the job properly by negligently handling the estate plan. In the event of this, a motion may be filed to have the individual removed from their role. This can either be approved or denied by a judge. If approved, the judge can then assign a new executor to finish the job.
Contact our Firm
If you or a loved one needs assistance creating an estate plan and wish to speak with an experienced attorney, contact the Law Office of Andres D. Gil, PLLC today.