Creating an estate is a very important part of an individual’s life. It allows them to plan for what will happen to their assets after they die. When it comes time to administer an estate, it is handled by an executor. An executor is an individual that is appointed to take care of an estate to ensure that it is handled the way it was intended to be by the person who wrote it. Being an executor is a very important job because they are trusted with another person’s final wishes after their life is over. An executor has many responsibilities in order to see out these wishes. When a person passes away, the executor may take over the estate and begin their duties taking care of the administration process.
What Does an Executor do?
An executor’s responsibilities are very serious, as they are appointed to take care of a person’s most precious assets. They are accountable for handling the estate properly. This position comes with certain tasks that must be completed before the estate is considered to be closed. The very first job that an executor has is to make sure the will in the estate plan is accepted by the court. Once this is done, they are required to handle any finances that were left. This may include any overdue payments or taxes that still need to be paid off. In order to pay these, an executor may need to consult with an attorney or accountant who can guide them in doing so. One of the most critical parts in handling a will is ensuring that all assets are properly distributed to their beneficiaries. If a will is contested at any point, the executor must resolve any issues that may arise.
An executor may be removed from their position if they do not do their job the way it was intended to be done. This may happen if they act corruptly and not in the best interest of the estate or the individual who created it. If this occurs, a motion may be filed by a beneficiary to have the executor removed from the position. A judge will determine whether or not they will be removed. They may also possibly replace them with a new executor to complete the job.
Choosing an Executor
When you are creating an estate plan, it is important to consider who you wish to carry out your final wishes. Choosing this person should not be something that is taken lightly. When choosing, the person who should be an individual you trust greatly. They must be a person who you believe can handle a very overwhelming and time-consuming job.
Contact our Firm
If you are looking to create an estate plan and wish to appoint an executor to your will, contact the Law Offices of Stone Crosby, P.C. today.
Stone Crosby, P.C. has proudly served clients in Alabama for over 100 years. Our firm has experience handling matters including divorce and family law, estate planning and administration, business law, employment law, class actions, consumer protection, business law, real estate law, among many others. If you require quality legal representation, contact our firm today to schedule a consultation.