The Responsibilities Of An Executor Of The Will-pgd-426

Legal When a person dies and leaves a large amount of money, property and assets, he usually leaves a will. In the will, the deceased person usually names one or two persons that will execute the contents of the will. The executor of a will is usually the lawyer or a personal friend of the deceased. When the named executor is not a lawyer, the executor will usually need the help and guidance of a lawyer. For an executor to be recognized by the court, you will have to be more than eighteen years old and has not been charged by a felony case. Being an executor .es with a lot of responsibilities. It is also time consuming and might take a long time to be over with especially if the will will be contested. The executor must be ready for any unforeseen events to .e. Your responsibilities will include: 1. The executor must ensure that all the properties, estates and accounts are protected. Arranging for insurance may also be applicable as long as you are sure that the properties are well protected. 2. Locate all properties, assets and accounts and make sure all are well accounted for. 3. Provide a lawyer and a accountant (if necessary) to help you in disposing the assets to the beneficiaries. 4. All life insurances that the deceased person had must be notified and a certified death certificate must be sent to them. The insurance .panies must be requested to pay the amount to the beneficiaries. 5. All insurances for the houses and cars must be notified of the death too. Also ensure that the insurances are well maintained. Make a list of all the assets which might include stocks in the market, bonds, pensions, bank accounts, investments, bonuses in the salary, insurance from work and all benefits for the spouse should also be accounted for. 6. Make a list of all the debts and make sure to settle all of them. 7. Once all the debts and assets are accounted for, you can then proceed with distribution of the properties in accordance to the will and laws that applies to the will. Handling the estates of the deceased can be a very difficult task. Other than it is time consuming and physically exhausting, dealing with bitter family members can also be irritating. It is indeed a very tiring job when you be.e an executor of a will. Also, emotional sentiments and biases should be avoided when you are the executor of the will. If being an executor confusing for you, you can ask assistance from a lawyer, or a certified public accountant to help you and guide you in distributing the estate. If you feel that responsibilities are too much for you and you cannot .e up it, you are free to decline to the responsibilities tasked to you. About the Author: 相关的主题文章:

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