Many people create an estate plan to prepare for what will happen to their assets when their life is over. In creating this plan, the individual typically assigns another person to carry out these plans for them after their death. This person is an executor. As an executor, their job is to make sure the estate plan is handled the way the deceased individual intended it to be. The job of being an executor of an estate is very important and requires a number of responsibilities.
What is the Job of an Executor?
Once the individual who created the estate plan passes away, the executor’s responsibilities begin and they can start their job. They are required to manage the estate and ensure every task is completed to the best of their ability. The first job of the executor is to bring the deceased’s last will and testament to court. This begins the process of probate to determine the validity of the document. If it is approved, the executor must then ensure all financial requirements of the estate are taken care of. This can include outstanding payments or taxes that must be paid off. It can be beneficial to enlist an experienced attorney or accountant during this time to ensure the payments are made correctly.
Once these tasks are finished, the executor can finally begin to distribute the remaining assets to their rightful beneficiaries. There are cases in which a beneficiary may doubt the content of a will. When this happens, they may contest its validity. It is up to the executor during this time to handle the situation and clear up any disagreements.
Choosing an Executor
Appointing an executor is a crucial part of creating an estate plan. It is important to choose an executor that can be trusted to carry out your final wishes. It is a big responsibility that should be treated as such. An executor should be able to appropriately carry out the tasks of an estate plan to the best of their ability.
An executor can be removed from their position if they are not doing their job correctly. For example, if they are negligent or do not act in the best interest of the deceased and their estate. In these situations, a motion may be filed to have them removed from the position. A judge can either approve or deny this motion and pick a new executor to finish the job.
Contact our Firm
If you require compassionate and knowledgeable legal guidance for a matter of divorce, family or estate law, please contact the experienced attorneys at the Law Offices of Cynthia L. Hanley today. Our firm proudly serves clients in Mansfield, Massachusetts and throughout Bristol County.