What if No One Wants to be the Executor of an Estate?

What if No One Wants to be the Executor of an Estate?

When someone passes away, there is a lot to do when it comes to his or her estate. The person in charge of this is called an executor. Usually, the executor has been named by the estate owner during his lifetime. But, sometimes an executor has not been named, or there is an issue with the executor who was chosen. So what happens if no one wants to manage an estate? Read on for more information regarding estate planning in New York.

What is an Executor?

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. 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. Many people are honored to be named executor of an estate. But, it can be a lot of work and it is a big responsibility. For this reason, some people decide they do not want the position anymore. This can complicate things.

What if No One Wants to be the Executor?

When it comes to an executor, there are some things that can go wrong. Sometimes, no executor has been chosen. Other times, an executor has been chosen but no longer wants to step up to the plate. Additionally, an executor can be removed from his or her position for corruption or mishandling of duties. If an executor has been chosen and agreed to the position, but later decides he or she does not want the responsibility, he can be removed from the position. In this case, there may be a backup executor who has been named and will step into the role. If there is no backup, a judge will pick a new, suitable executor to take over.

If you were named executor but no longer want the job, contact our firm today to discuss your options. We are here to walk you through all of your estate planning matters.

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.

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