Category Archives: Executor
What Other Important Papers Should My Executor Be Able to Find?
The documents and instructions left for your loved ones explain your wishes and help them find critical details they need in the aftermath of your death. If your loved ones or appointed executor can’t find these materials, this could delay the administration of your estate and add to an already difficult situation. Even if… Read More »
What Is an Executor Required to Do?
When you create your estate plan, you name someone as an executor or executoress to handle the administration of your estate. This individual has a fiduciary duty to the estate and to its beneficiaries, meaning they must act in accordance with the wishes of the will and other estate planning documents and remain in… Read More »
Why You Need to Review Your Executor Regularly
Creating an estate plan is a task that’s ongoing. You’ll need to make adjustments to your estate plan as your life circumstances change and as you decide you want different people involved in the important roles of managing your estate. One of those important roles is that of executor, or the person who will… Read More »
What Happens If an Executor Refuses to Follow the Wishes of The Decedent in The Will?
A will lays out the particular plan for how a person’s assets and liabilities should be addressed when they pass away. An executor gets appointed, also known as a personal representative in some states, to handle this process known as probate or estate administration. If you are a beneficiary of an estate, or you… Read More »
How Does an Executor Gather Assets?
Before an executor can serve in their future duties as personal representative for a deceased person’s estate, they must begin by inventorying all assets. Identifying all assets that belong to the decedents and safekeeping them if necessary are two important components of serving as a personal representative. Safekeeping is especially important if the decedent… Read More »
Is An Executor Responsible for Managing Estate Property?
An executor, also known in some states as a personal representative, has many different responsibilities associated with closing out an estate. This is why most people sit down with their estate planning lawyer to name their executor in their will. This person formally opens the probate process but continues to carry out many of… Read More »
What Does an Executor Do When There Is No Will?
If the will that is associated with an estate is invalid or if an executor cannot find a will, state law determines what happens to the property inside the estate. Many people don’t write wills such that when it’s time to settle their estates, it becomes difficult to determine who inherits the property. Virginia… Read More »
Do Virginia Executors Get Paid?
The role of serving as a Virginia executor or sometimes referred to in other states as the personal representative of an estate can require a lot of work. Per Virginia code section 64.2-1208, the commissioner of accounts allows for a personal representative to be reimbursed for any reasonable expenses incurred and, unless a separate… Read More »
What If I Don’t Want to Be the Executor of Someone Else’s Estate?
Being appointed as an executor comes with a significant set of responsibilities and a high level of ethics that call upon you to carry out important tasks with a focus on details and the law. The support of an experienced estate planning professional is recommended when naming an executor or personal representative to your… Read More »
What Does Your Estate Executor Need to Do Immediately After a Loved One Passes Away?
An estate executor, which might be called different terms in different states plays an important role in closing out the final affairs of a recently deceased family member. There are a couple of aspects of this process that take place over the course of later weeks and months or even years but some steps… Read More »